SAN FRANCISCO and WUXI, China, May 8 /PRNewswire-Asia/ -- Suntech Power
Holdings Co., Ltd. (NYSE: STP), the world's largest manufacturer of
crystalline silicon photovoltaic (PV) modules, today announced that in the
first quarter of 2009, Suntech re-purchased $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.
Suntech 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, our liquidity requirements and other factors.
Suntech Power Holdings Co., Ltd. (NYSE: STP) is the world's leading solar
energy company as measured by production output of crystalline silicon
photovoltaic (PV) 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's patent-pending
Pluto technology for crystalline silicon solar cells improves power output by
up to 12% compared to conventional production methods.
Suntech also offers one of the broadest ranges of building-integrated
solar products under the MSK Solar Design Line(TM). Suntech designs and
delivers commercial and utility scale solar power systems through its wholly
owned subsidiaries Suntech Energy Solutions and Suntech Energy Engineering and
will own and operate projects greater than 10 megawatts in the United States
through Gemini Solar Development Company, a joint venture with Renewable
Ventures, a Fotowatio Company. 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 .
Safe Harbor Statement
This press release contains forward-looking statements. These statements
constitute "forward-looking" statements within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended, and as defined in the U.S. Private
Securities Litigation Reform Act of 1995. These forward-looking statements can
be identified by terminology such as "will," "expects," "anticipates,"
"future," "intends," "plans," "believes," "estimates" and similar statements.
Such statements involve certain risks and uncertainties that could cause
actual results to differ materially from those in the forward-looking
statements. Further information regarding these and other risks is included in
Suntech's filings with the U.S. Securities and Exchange Commission, including
its annual report on Form 20-F. Suntech does not undertake any obligation to
update any forward-looking statement as a result of new information, future
events or otherwise, except as required under applicable law.
For further information, please contact:
Investor Relations Director
In the United States:
Sanjay M. Hurry
The Piacente Group, Inc.
SOURCE Suntech Power Holdings Co., Ltd.
/CONTACT: In China: Rory Macpherson, Investor Relations Director at
+86-21-6288-5574 or firstname.lastname@example.org; In the United States: Sanjay M.
Hurry, Vice President, The Piacente Group, Inc. at +1-212-481-2050 or
/Web site: http://www.suntech-power.com /
CO: Suntech Power Holdings Co., Ltd.; Nitol Solar
ST: China, California
IN: OIL ENV
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4169 05/08/2009 08:15 EDT http://www.prnewswire.com