LDK Solar: Arrangement With Noteholders
XINYU CITY, China and SUNNYVALE, California - LDK Solar Co., Ltd. announced that it has entered into a new 30-day forbearance arrangement with holders of a majority in aggregate principal amount of its US$-Settled 10% Senior Notes due 2014 (the "Notes"). The new forbearance arrangement, which expires on November 26, 2013, relates to the interest payment due under the Notes on August 28, 2013. That interest payment is still unpaid. It is LDK Solar's intention to find a consensual solution to its obligations under the Notes as soon as possible and LDK Solar remains hopeful that it will be able to achieve that goal. As reported previously, LDK Solar has engaged Jefferies LLC as a financial advisor for strategic advice in connection with the Notes and LDK Solar's other offshore obligations. Holders of LDK Solar's offshore debt obligations may contact Augusto King at aking@Jefferies.com, or Steven Strom at sstrom@Jefferies.com, Lyndon Norley at lyndon.norley@Jefferies.com, or Richard Klein at rklein@Jefferies.com with any questions.
Sidley Austin is acting as counsel to LDK Solar, led by Thomas Albrecht at firstname.lastname@example.org, and Timothy Li at email@example.com. LDK Solar understands that Ropes & Gray LLP is acting as counsel to a group of noteholders, led by Daniel Anderson (firstname.lastname@example.org) and Paul Boltz (email@example.com). LDK Solar also understands that Houlihan Lokey has been engaged as financial advisor to that same group of noteholders; holders of the Notes may contact Brandon Gale at firstname.lastname@example.org with any questions.
About LDK Solar
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.
Lisa Laukkanen, The Blueshirt Group for LDK Solar, +1-415-217-4967, email@example.com or Jack Lai, Executive VP and CFO, LDK Solar Co., Ltd., +1-408-245-8801, IR@ldksolar.com
SOURCE: LDK Solar Co., Ltd.