Suntech Power Holdings Co., Ltd. announced that it intends to offer an aggregate of US $425 million convertible senior notes due 2013, in a private offering to qualified institutional buyers. In some circumstances, the notes will be convertible into, at Suntech's election, cash, American depositary shares (ADSs) representing Suntech's ordinary shares or a combination of cash and ADSs.

Suntech currently expects to use approximately US $300 million of the net proceeds from the offering of the notes for procuring upstream supplies and the balance for production capacity expansion and new technology commercialization.