Canadian Solar's (CSIQ) Recurrent Energy unit said Wednesday that it has secured a multi-currency credit facility with a total value of up to $415 million.
The company said the facility is backed by Banco Santander (SAN), Rabobank, Intesa Sanpaolo, and Morgan Stanley (MS). The facility includes an accordion feature for a potential increase and offers disbursements in US dollars, euros, pounds, and Australian dollars, according to the statement.
Recurrent Energy said the facility will allow it to pursue strategic opportunities and accelerate deployment of clean energy projects globally.
Shares of Canadian Solar were down more than 4% in recent Wednesday trading.
Price: 9.19, Change: -0.47, Percent Change: -4.82
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