First Solar Secures $1B Revolving Credit Facility
Portfolio Pulse from Happy Mohamed
First Solar, Inc. (NASDAQ:FSLR) has secured a five-year revolving credit and guarantee facility for $1 billion, with J.P. Morgan Chase Bank acting as Lead Arranger. Other banks participating include Bank of America, Citibank, Credit Agricole CIB, and PNC Bank, among others. The company plans to use the facility to support its growth strategy, which includes adding approximately 8 GWDC of new capacity between 2023 and 2026.
July 06, 2023 | 8:06 pm
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First Solar's new credit facility will provide the financial flexibility needed to support its growth strategy. This could potentially lead to increased revenues and profitability in the future.
The new credit facility will provide First Solar with the financial flexibility to invest in its growth strategy, which includes adding significant new capacity. This could potentially lead to increased revenues and profitability in the future, which would likely have a positive impact on the company's stock price.
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