Canadian Solar Inc. (the “Company”, or “Canadian Solar”) (NASDAQ:CSIQ) today announced the successful placement of a JPY 18.5 billion green samurai private placement (“private placement”). Goldman Sachs Japan Co., Ltd. (“GS”), was the lead arranger and sole book runner with the domestic bond investors.
The private placement has a 3-year tenor with a mix of both semi-annual fixed (1.82% p.a.) and floating (circa 1.49% p.a.) coupons.
The Japan Credit Rating Agency, Ltd. (“JCR”) has assigned this structured bond with an investment grade rating of “A-“. Also importantly, JCR certified the issuer with the highest Green 1 rating under the Japanese Green Bond guidelines. Orix Bank Corporation has been appointed as the trustee.
Canadian Solar has been a seasoned project bond issuer in Japan and had closed seven transactions for its ground mounted solar projects totaling over forty billion Japanese yen since 2016.
