Yingli Headed For Default Again

Sina: 英利债务违约或再现 会成为下一个尚德吗?
Under Are "became another Suntech" the curse, the world's leading solar energy company Yingli Green Energy (NYSE: YGE) again suffering from the same illness a year ago.

Long quagmire trap losses, so that the global PV module shipments once occupied the throne of the solar giant Yingli Green Energy and their families, slip into another quagmire - continue to face a series can not pay in full the debt dilemma.
Yingli still owes 1 billion yuan on prior defaulted bonds, plus another 1.4 billion due in May:
arlier plus another 1 billion yuan of debt in the amount of outstanding loans remaining 357 million yuan, both before and after a total of 1.757 billion yuan total pen repayment payable at faces.

... Yingli such persons in an interview that the interface, according to the actual situation of the current operating Yingli expects above 1.4 billion yuan debt repayment difficulties do exist. Cash-flow, capital operation and other issues, the company is communicating with the creditors, the company hopes to gradually resume production operations, land transfer, the introduction of strategic investors and other forms of restructuring to solve this problem.
Bloomberg: Yingli Fails to Reach Deal to Extend Repayments Due on May 12
The company also will make its “best efforts” to repay the remaining portion of 1 billion yuan of notes, whose final installment is due by the same date, Yingli said in a statement released on PR Newswire on Wednesday. Both debts in the form of medium-term notes were borrowed by Yingli’s unit Baoding Tianwei Yingli New Energy Co.
Yingli said its officials met with Bank of Communications Co., the lead underwriter on both securities, on March 28 to propose extending the 1.4 billion yuan notes for another two to three years. The bank asked for another Yingli unit, Yingli China, to be added as guarantor. No agreement was reached, and the companies said they’d consider each other’s proposals.

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