SHANGHAI, China - September 24, 2012 (Investorideas.com renewable energy newswire) JA Solar Holdings Co., Ltd. (Nasdaq:JASO), one of the world's largest manufacturers of high-performance solar power products, today announced that, during the third quarter of 2012, the Company purchased its 4.5% senior convertible notes ("Senior Notes") with an aggregate face value of US$89.2 million.
The Company's Senior Notes, which were offered in May 2008 with an aggregate principal amount of US$400 million, will mature on May 15, 2013, unless repurchased by the Company or converted in accordance with terms and conditions prior to such date. As of June 30, 2012, the total face value of the Company's Senior Notes was US$219.7 million. As of the date of this release, the Company had successfully reduced the total face value of its outstanding Senior Notes to US$130.5 million.
Dr. Peng Fang, CEO of JA Solar, said, "This repurchase of our Senior Notes demonstrates JA Solar's solid financial position and our ability to meet our financing obligations in the long term. This is also an important part of our efforts to maintain one of the healthiest balance sheets in the industry."
This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by words such as "may," "expect," "anticipate," "aim," "intend," "plan," "believe," "estimate," "potential," "continue," and other similar statements. Statements other than statements of historical facts in this announcement are forward-looking statements, including but not limited to, our expectations regarding the expansion of our manufacturing capacities, our future business development, and our beliefs regarding our production output and production outlook. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the Company and the industry. Further information regarding these and other risks is included in Form 20-F and other documents filed with the Securities and Exchange Commission. The Company undertakes no obligation to update forward-looking statements, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that its expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.
About JA Solar Holdings Co., Ltd.
JA Solar Holdings Co., Ltd. is a leading manufacturer of high-performance solar power products that convert sunlight into electricity for residential, commercial, and utility-scale power generation. The Company is one of the world's largest producers of solar cells. Its standard and high-efficiency product offerings are among the most powerful and cost-effective in the industry. The Company also produces solar modules that it distributes under its own brand and produces on behalf of solar manufacturers globally. The Company shipped 1.69 GW of solar power products in 2011. JA Solar is headquartered in Shanghai, China, and maintains production facilities in Shanghai, as well as Hebei, Jiangsu and Anhui provinces. For more information, please visit www.jasolar.com.
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