Published on : Apr 28, 2015
Goldman Sachs is planning to pay a sum of US$100 million dedicated to convertible bonds which will give the company rights to buy around 45 per cent stake in the business which will allow it to acquire solar power plants in the nation of China.
GCL New Energy Holding which is a Hong Kong listed firm which controlled by the Chinese billionaire named Zhu Gongshan will be owning the other share part of 55 per cent, was mentioned in the statement from GCL New Energy recently.
The firm Goldman Sachs will be able to redeem their bonds at sum which will result in a total internal rate of returns which is of 7 per cent per year from the issue to the date of maturity. Also, the new venture is being set for the aim of acquiring and holding the generation of solar energy in the PRC with a expected cash flow stream in order to provide funding to a regular and growing dividend to public investors of the firm, stated the GCL New Energy.
This news has supported the share of GCL New Energy soar by 16 per cent in Hong Kong very recently.
Furthermore, the country China has been in the process of promoting their solar sector to decrease their applying air pollution issues and emerge as the worldwide industry leader in the previous years.