GUELPH, Ontario, May 4, 2018 /PRNewswire/ -- Canadian Solar
Inc., (the "Company", or "Canadian Solar") (NASDAQ:CSIQ), one
of the world's largest solar power companies, today announced that
it won J-Money's Best Structured Product Award during its Japan
Deals of the Year 2017 awards program. Canadian Solar is
celebrating its second award win for its innovative dual-tenor
green project bond, adding the accolade to the prior Project Bond
of the Year Award by Environmental Finance and third financing
award to date worldwide for 2017.
Originally established by international financial publisher
Euromoney PLC, J-Money magazine has covered the Japanese and
international capital markets for over 30 years. The awards
recognize best financial practices in Japan, and are based on industry peer
assessments from the financial industry. Other notable winners for
the J-Money Japan Deal Awards of the Year 2017 include KKR, DBJ,
and Credit Agricole, among others. This second award affirms
that the world's first dual-tenor green project bond, raising
JPY5.4 billion (US$49 million) offered by Canadian Solar for its
19 MWp Gunma Aramaki solar power project, is a groundbreaking
structure for international structured finance.
"We are honored once more with this second award. The
international recognition encourages us to commit to further
innovation in the Japan market. We
garnered immense support from our business partners, investors, and
financiers to shape an innovative financing structure," commented
Dr. Shawn Qu, Chairman and Chief
Executive Officer, "This success gives us the confidence to execute
future financing of solar with the same dynamic approach."
The Gunma Aramaki project bond received an investment grade
rating of "A", the highest rating in Japan PV sector, by the Japan Credit Rating
Agency, Ltd. ("JCR") and has been independently certified as a
green bond in accordance with the Green Bond Principles 2016
published by the International Capital Market Association ("ICMA")
by the Japan Research Institution, Limited ("JRI"). Goldman Sachs
Japan Co., Ltd. acted as the structuring advisor and sole bond
arranger.
About Canadian Solar Inc.
Founded in 2001 in Canada,
Canadian Solar is one of the world's largest and foremost solar
power companies. As a leading manufacturer of solar photovoltaic
modules and provider of solar energy solutions, Canadian Solar also
has a geographically diversified pipeline of utility-scale power
projects in various stages of development. In the past 17 years,
Canadian Solar has successfully delivered over 26 GW of premium
quality modules to over 100 countries around the world.
Furthermore, Canadian Solar is one of the most bankable companies
in the solar industry, having been publicly listed on 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 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;
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 and China; 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; 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; exchange rate fluctuations; litigation
and other risks as described in the Company's SEC filings,
including its annual report on Form 20-F filed on April 26, 2018. 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.