LDK Solar files in Cayman Islands to resolve offshore liquidity
Tuesday, Feb 25, 2014
LDK Solar Co., Ltd. ("LDK Solar"; NYSE: LDK) announces that LDK Solar made a filing on February 21, 2014 with the Grand Court of the Cayman Islands for the appointment of joint provisional liquidators in connection with its plans to resolve its offshore liquidity issues. LDK Solar has made considerable progress in its discussions with its key offshore creditors in line with the terms announced in its press release of December 27, 2013. LDK Solar intends to continue such discussions over the next few days and anticipates a favorable conclusion to those discussions. The filing and the proposed appointment do not affect any of the LDK Solar-affiliated entities operating in the People's Republic of China and LDK Solar has no intention of initiating any additional debt restructuring proceedings in that jurisdiction. LDK Solar's bank group for its mainland China operations has expressed unanimous support for LDK Solar's continued discussions with its offshore creditors with a view to resolving its offshore liquidity issues.
About LDK Solar (NYSE: LDK)
LDK Solar Co., Ltd. (NYSE: LDK) is a leading vertically integrated manufacturer of photovoltaic (PV) products. LDK Solar manufactures polysilicon, mono and multicrystalline ingots, wafers, cells, modules, systems, power projects and solutions. LDK Solar's headquarters and principal manufacturing facilities are located in Hi-Tech Industrial Park, Xinyu City, Jiangxi Province in the People's Republic of China. LDK Solar's office in the United States is located in Sunnyvale, California. For more information about LDK Solar and its products, please visit www.ldksolar.com.
SOURCE LDK Solar