LDK Solar Enters into Further Forbearance Arrangement with Noteholders

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LDK Solar enters into a further 15-day forbearance arrangement with holders of a majority in aggregate principal amount of its US$-Settled 10% Senior Notes due 2014.

 

 

LDK Solar Co., Ltd. (NYSE: LDK), is leading vertically integrated manufacturer of PV products, announced yesterday that it has entered into yet another 15-day forbearance arrangement with holders of a majority in aggregate principal amount of its US$-Settled 10% Senior Notes due 2014. The new forbearance arrangement, which expires on January 23, 2014, relates to the interest payment due under the Notes on August 28, 2013. That interest payment is still unpaid.

 

LDK Solar intends to find a consensual solution to its obligations under the Notes as soon as possible, and remains hopeful that it will be able to achieve that goal.

 

As reported previously, LDK Solar has engaged Jefferies LLC as a financial advisor for strategic advice in connection with the Notes and LDK Solar’s other offshore obligations.