Canadian Solar (CSIQ) said Friday it priced its previously announced offering of $200 million total principal amount of convertible senior notes due 2031.
The company has provided a 30-day option to the initial purchasers to buy up to an additional $30 million total principal amount of the notes, it said, adding that it intends to close the offering around Tuesday.
The notes carry an interest of 3.25% per annum, payable semi-annualy on Jan. 15 and July 15 every year, starting on July 15 this year and will mature on Jan. 15, 2031, the company said.
Canadian Solar said it anticipates roughly $194.6 million in net proceeds, which it plans to use for investments in US production, supporting its battery energy storage and solar power operations, and general corporate purposes.
Shares of the company were up 2.9% in recent Friday premarket activity.
