Canadian Solar Inc. (the "Company" or "Canadian Solar") (NASDAQ: CSIQ) announces that Canadian Solar EMEA Capital Markets, S.A.U., an indirectly wholly-owned subsidiary of Canadian Solar, on November 19, 2021 registered in Spain a € 100 million medium term note program, dated November 15, 2021, in the Spanish multilateral trading facility (MTF) for debt securities (MARF). Any payment under the notes issued under the note program will be guaranteed by the Company. The notes may qualify as "green bonds" pursuant to the International Capital Market Association (ICMA) Green Bond Principles and the Green Financing Framework adopted by the Company in Europe, Middle East and Africa, or EMEA region. Canadian Solar's EMEA's Green Financing Framework received a favorable third-party opinion from Sustainalytics.
The notes will only be offered and sold to non-U.S. persons outside the United States in reliance on Regulation S under the U.S. Securities Act of 1933 (the "Securities Act"). The notes have not been, and will not be, registered under the Securities Act or the securities laws of any state or other jurisdiction in the United States. The notes may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
In the European Union, the notes will only be directed to "qualified investors" as defined in Regulation (EU) 2017/1129, including (i) eligible counterparties, as defined in Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 (the "EU MiFID II") and the Spanish Securities Market Act; and (ii) professional clients, as defined in the EU MiFID II and the Spanish Securities Market Act, or any provision which may replace or supplement it in the future.
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With the note program, Canadian Solar aims to increase its sustainable investment footprint, using the fund proceeds to finance the development and acquisition of new solar PV and battery storage projects, both nationally and internationally, and support the United Nations Sustainable Development Goals.
The notes will have a minimum denomination of € 100,000 each (or a minimum equivalent amount in any other currency), while their interest rates and maturities will be determined at the time of each issuance.
Source: Canadian Solar
Date: Nov 19, 2021
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