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SAN FRANCISCO and WUXI, China, Jan 15, 2010 /PRNewswire via COMTEX/ -- Suntech Power Holdings Co., Ltd. (NYSE: STP) ("Suntech") announced today that its 0.25% Convertible Senior Notes due 2012 (CUSIP # 86800CAC8 and 86800CAA2) (the "Notes") will become convertible at the option of the holders beginning on January 15, 2010 and will remain convertible through February 10, 2010 ("Conversion Period"), the third business day preceding February 15, 2010, as provided in the Indenture, dated as of February 15, 2007, between Suntech and Wilmington Trust Company, as Trustee (the "Indenture").
The Notes will be convertible automatically during the Conversion Period pursuant to the Indenture. As a result, during the Conversion Period, holders of the Notes may elect to convert some or all of their Notes.
Suntech may deliver ADSs, cash or a combination of cash and ADSs in satisfaction of its obligations upon conversion of the Notes.
Holders of Notes may obtain further information on how to convert their Notes by contacting the conversion agent at the following address:
Wilmington Trust Company
Corporate Capital Markets
Rodney Square North
1100 North Market Street
Wilmington, Delaware 19890-1626
Attn: Sam Hamed
This press release is for informational purposes only and does not constitute an offer to buy or the solicitation of an offer to sell any Notes or Suntech's ADSs.
Suntech Power Holdings Co., Ltd. (NYSE: STP) is the world's leading solar energy company as measured by production output of crystalline silicon solar modules. Suntech designs, develops, manufactures, and markets premium quality, high-output, cost-effective and environmentally friendly solar products for electric power applications in the residential, commercial, industrial, and public utility sectors. Suntech offers an extensive range of customer-centric innovations, including Suntech's patent-pending Pluto technology for crystalline silicon solar cells, which improves power output by up to 12% compared to conventional production methods, the Reliathon(TM), the industry's first fully integrated utility-scale solar platform, and its broad range of building-integrated solar products.
Suntech designs and delivers commercial and utility scale solar power systems in China and the United States. With regional headquarters in China, Switzerland and San Francisco and sales offices worldwide, Suntech is passionate about improving the environment we live in and dedicated to developing advanced solar solutions that enable sustainable development. For more information, please visit http://www.suntech-power.com .
For more information, please contact:
Investor Relations Director
Suntech Power Holdings Co., Ltd.
In the United States:
Executive Vice President
The Piacente Group, Inc. (Investor Relations Counsel, Suntech)
SOURCE Suntech Power Holdings Co., Ltd.