Yingli Green Plans To Restructure Repayment Plan For Mid-Term Notes Due In Oct.

(RTTNews) - Yingli Green Energy Holding Company Limited (YGE) announced that its holding subsidiary, Baoding Tianwei Yingli New Energy Company Limited plans to restructure the repayment plan for $157 million or 1.0 billion RMB of mid-term notes or MTNs due on October 13, 2015.

The MTNs were issued by Tianwei Yingli as five-year unsecured notes.

The company expects to receive approximately $138 million or 875 million RMB as the compensation from the liquidation of idle land and demolition of facilities held by Fine Silicon, one of the company's wholly-owned subsidiaries.

The company believes it will be able to collect a substantial amount of the compensation to partially repay the MTNs before the end of 2015. The remaining amount of the MTNs is expected to be repaid within one year, and will be collected from various financing sources, including the company's collection of accounts receivables.