GUELPH, Ontario, Dec. 2, 2021 /PRNewswire/ -- Canadian Solar
Inc. (the "Company", or "Canadian Solar") (NASDAQ: CSIQ)
announces that Canadian Solar EMEA Capital Markets, S.A.U., an
indirectly wholly-owned subsidiary of Canadian Solar, on
December 2, 2021 has successfully
completed a € 30 million green bond issuance due on December 2026 under its € 100 Canadian Solar EMEA
Green Medium Term Note Program in the Spanish multilateral trading
facility (MTF) for debt securities (MARF). The notes are guaranteed
by the Company and qualify as "green bonds" pursuant to the
International Capital Market Association (ICMA) Green Bond
Principles and the Green Financing Framework adopted by the Company
in Europe, Middle East and Africa, or EMEA region.
The notes were offered and sold only to non-U.S. persons outside
the United States in reliance on
Regulation S under the U.S. Securities Act of 1933 (the "Securities
Act"). The notes have not been, and will not be, registered under
the Securities Act or the securities laws of any state or other
jurisdiction in the United States.
The notes may not be offered or sold in the United States absent registration or an
applicable exemption from registration requirements.
The notes, with a unit face value of € 100,000 each, have a
tenor of five years and a coupon of 4.0%. Investors included mainly
public credit entities, mutual funds and non-financial
corporations. Canadian Solar may raise more funds over the next
twelve months to complete the Note Program's total size of € 100
million depending on the timing of its capital requirements and
market conditions.
With the green bond proceeds, Canadian Solar aims to support the
growth, development and construction of its solar PV and battery
storage portfolio in EMEA, currently at 4.6 GW and 2.0 GWh
respectively, and contribute to the United Nations' Sustainable
Development Goals.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy any notes, nor shall there be any
offer, solicitation or sale of notes in any jurisdiction in which
such offer, solicitation or sale would be unlawful.
About Canadian Solar Inc.
Canadian Solar was founded in 2001 in Canada and is one of the world's largest solar
technology and renewable energy companies. It is a leading
manufacturer of solar photovoltaic modules, provider of solar
energy and battery storage solutions, and developer of
utility-scale solar power and battery storage projects with a
geographically diversified pipeline in various stages of
development. Over the past 20 years, Canadian Solar has
successfully delivered over 63 GW of premium-quality, solar
photovoltaic modules to customers across the world. Likewise, since
entering the project development business in 2010, Canadian Solar
has developed, built and connected over 6.2 GWp in over 20
countries across the world. Currently, the Company has around 430
MWp of projects in operation, nearly 7 GWp of projects under
construction or in backlog (late-stage), and an additional 17 GWp
of projects in pipeline (mid-to early- stage). Canadian Solar is
one of the most bankable companies in the solar and renewable
energy industry, having been publicly listed on the NASDAQ since
2006. For additional information about the Company, follow
Canadian Solar on LinkedIn or
visit www.canadiansolar.com.
Safe Harbor/Forward-Looking Statements
Certain statements in this press release, including but not
limited to the use of proceeds, are forward-looking statements that
involve a number of risks and uncertainties that could cause actual
results to differ materially. These statements are made under the
"Safe Harbor" provisions of the U.S. Private Securities Litigation
Reform Act of 1995. In some cases, you can identify forward-looking
statements by such terms as "believes," "expects," "anticipates,"
"intends," "estimates," the negative of these terms, or other
comparable terminology. Factors that could cause actual results to
differ include general business and economic conditions and the
state of the solar industry; volatility, uncertainty, delays and
disruptions related to the COVID-19 pandemic; governmental support
for the deployment of solar power; future available supplies of
high-purity silicon; demand for end-use products by consumers and
inventory levels of such products in the supply chain; changes in
demand from significant customers; changes in demand from major
markets such as Japan, the U.S.,
India, China and Brazil; changes in customer order patterns;
changes in product mix; capacity utilization; level of competition;
pricing pressure and declines in average selling prices; delays in
new product introduction; delays in utility-scale project approval
process; delays in utility-scale project construction; delays in
the completion of project sales; delays in the process of
qualifying to list the CSI Solar subsidiary in the PRC; continued
success in technological innovations and delivery of products with
the features customers demand; shortage in supply of materials or
capacity requirements; availability of financing; logistical
challenges that could increase the selling costs of the Company;
exchange rate fluctuations; litigation; potential initiation of an
anti-circumvention investigation and other risks as described in
the Company's SEC filings, including its annual report on Form 20-F
filed on April 19, 2021 and the note
program of Canadian Solar EMEA Capital Markets, S.A.U. dated
November 15, 2021 and filed with the
MARF in Spain on November 19, 2021. Although the Company believes
that the expectations reflected in the forward-looking statements
are reasonable, it cannot guarantee future results, level of
activity, performance, or achievements. Investors should not place
undue reliance on these forward-looking statements. All information
provided in this press release is as of today's date, unless
otherwise stated, and Canadian Solar undertakes no duty to update
such information, except as required under applicable law.
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SOURCE Canadian Solar Inc.