First Solar secures $300m revolving credit facility

First Solar Inc of Tempe, AZ, USA, which manufactures thin-film photovoltaic modules based on cadmium telluride (CdTe)

First Solar Inc of Tempe, AZ, USA, which manufactures thin-film photovoltaic modules based on cadmium telluride (CdTe), has entered into a $300m senior secured revolving credit facility with a syndicate of nine leading financial institutions.

The facility, which was oversubscribed, has a three-year term and is intended to be used for general corporate purposes, including the issuance of letters of credit.

J.P. Morgan Securities Inc and Bank of America/Merrill Lynch served as joint lead arrangers and book runners for the facility.