Trina (TSL), JA Solar (JASO) Will Not Mimic Suntech (STP)
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Trina Solar (NYSE: TSL) and JA Solar (Nasdaq: JASO) ended the session higher after putting some investor fear to rest.
According to Reuters, the two solar outfits said payment on U.S. bonds maturing over the next few months would be no problem. JA Solar will be making a $123 million payment on its 4.5 percent convertible notes on May 15th, while Trina will shell out $83.5 million on a 4 percent senior note due July 15th.
News comes followng Suntech Power (NYSE: STP) reporting insolvency last week, causing many peers in the sector to feel a pinch. Suntech said on March 20th it would miss a note payment of $541 million. As a result, its Chinese subsidiary Wuxi Suntech Power Holdings Co., Ltd., filed for insolvency.
One other concern brought up is LDK Solar (NYSE: LDK), which has a $21 million payment due on April 15th. One analyst from Silvercrest Asset Management was quoted as saying that LDK doesn't generate enough cash to make the payment.
According to Reuters, the two solar outfits said payment on U.S. bonds maturing over the next few months would be no problem. JA Solar will be making a $123 million payment on its 4.5 percent convertible notes on May 15th, while Trina will shell out $83.5 million on a 4 percent senior note due July 15th.
News comes followng Suntech Power (NYSE: STP) reporting insolvency last week, causing many peers in the sector to feel a pinch. Suntech said on March 20th it would miss a note payment of $541 million. As a result, its Chinese subsidiary Wuxi Suntech Power Holdings Co., Ltd., filed for insolvency.
One other concern brought up is LDK Solar (NYSE: LDK), which has a $21 million payment due on April 15th. One analyst from Silvercrest Asset Management was quoted as saying that LDK doesn't generate enough cash to make the payment.
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