Trina Solar issues US$239m of debt

Trina Solar (TSL.NYSE) issued US$239 million worth of debt through the sale of American depositary receipts and convertible notes, Bloomberg reported, citing a company statement on Thursday. The Chinese solar panel manufacturer raised a net US$146.3 million from selling convertible notes due in 2019, and US$92.9 million from an offering of 8.8 million ADRs at US$11 per ADR. It said it plans to use the proceeds to finance the further development of solar power projects, expansion of manufacturing capacity and working capital.