PRESS

2017-12-28

CNE Signs a Convertible Loan Agreement with IFC

 

On December 28, 2017, Concord New Energy Group Limited signed a convertible loan agreement with World Bank's International Finance Corporation (IFC). According to the agreement, IFC will provide Concord New Energy Group Limited with a convertible loan of HKD 234 million at an interest rate as low as 2% to support the Group's development and construction of wind power projects in China. IFC is entitled to convert these loans into group shares at the price agreed in the contract, and the conversion price is 47.06%-76.47% higher than the closing price of the agreement signing data.
Through this agreement, the Group will further strengthen its in-depth cooperation with strategic shareholder IFC and vigorously develop new energy business.
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