Suntech Closes Offering of US$575 Million Convertible Senior Notes

WUXI, China, March 18 -- Suntech Power Holdings Co., Ltd. (NYSE: STP) announced today the closing of the offering of US$575 million of 3.00% Convertible Senior Notes due 2013 to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended. The offering closed on March 17, 2008. The aggregate principal amount of notes sold reflects the exercise in full by the initial purchasers of their option to purchase up to an additional US$75 million of the notes to cover over-allotments. Link. Chart.