Trina Solar Limited (NYSE: TSL) ("Trina Solar" or the "Company"), a integrated manufacturer of solar photovoltaic products from the production of ingots, wafers and cells to the assembly of PV modules, announced that it has extended the period during which holders of its 4.00% Convertible Senior Notes due 2013 in aggregate principal amount of US$138,000,000 (the "Notes") may exercise their put option in connection therewith to any time prior to 5:00 p.m., New York City time, on August 9, 2011.
The holders of the Notes originally had an option to require the Company to purchase, on July 15, 2011, all or a portion of their Notes in accordance with the terms, procedures and conditions outlined in the base indenture dated July 15, 2008 and first supplemental indenture dated July 23, 2008 (together, the "Indenture") between the Company and Wilmington Trust Company, as trustee and paying agent, and the Notes.
The Indenture required the Company to provide written notice to each holder of the Notes not less than twenty (20) business days prior to July 15, 2011, which the Company inadvertently omitted to provide timely. To honor its obligations under the Indenture and to allow the holders of the Notes the opportunity to exercise their put option in connection therewith, the Company has provided notice to all holders of the Notes that it will accept Notes for repurchase at any time prior to 5:00 p.m., New York City time, on August 9, 2011.
As part of the purchase price to be paid as of August 10, 2011, the Company will include any accrued and unpaid interest to, but excluding, August 10, 2011 as stipulated in the put right purchase offer dated July 12, 2011.