LDK looks to raise $472 million from Chinese investors

Heavily indebted Chinese PV manufacturer, LDK Solar, hopes to raise approximately USD472.7 million from Chinese institutional investors to replace short-term debts through a notes issue staged over the next three quarters.

The first tranche of approximately USD78.8 million is to be issued today and due December 8, 2014. The second tranche of the same amount will be issued in the first quarter of 2012. The third and fourth tranches are for larger sums, approximately USD116 million, issued in the second and third quarters of 2012.