Solar

Suntech Repurchases US $150M in Senior Notes

Suntech Power Holdings Co. Ltd. announced that in the first quarter of 2009, Suntech repurchased US $150.4 million aggregate principal amount of its 0.25% convertible senior notes due 2012 for a total cash consideration of $129.9 million.

As of May 8, 2009, Suntech had $255.8 million principal amount of its 2012 convertible senior notes outstanding.

The company said in a statement that it may from time to time seek to make additional repurchases of its convertible senior notes. Such repurchases, if any, will depend on prevailing market conditions, liquidity requirements and other factors.