Bailout for Yingli

SeeNews: China's Yingli to get USD 508m in financial aid
Chinese photovoltaics (PV) maker Yingli Green Energy (NYSE:YGE) will receive some CNY 3.3 billion (USD 508m/EUR 454m) in financial support to help it settle outstanding debts and advance its restructuring, Bloomberg said Monday.

The larger part of the sum, around CNY 2.5 billion, will come by means of an extended loan from the China Development Bank (CDB), an unnamed person familiar with the matter told the news agency. Meanwhile, the local government of Hebei province’s Baoding -- the city in which Yingli is based -- has committed to lend the remainder to the troubled solar company.

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