LDK Solar postpones note sale, shares fall
LDK Solar postpones note sale, shares fall LOS ANGELES (Global Markets) - Chinese solar company LDK Solar Co Ltd on Thursday postponed a proposed offering of senior notes due to a recent increase in interest rates.Stock Market Predictions
The company's shares fell 1.3 percent after the announcement.
The company had intended to use proceeds from the sale to pay down short-term debt.
"We still expect to generate sufficient operating cash flow to support our business plan," Chief Executive Xiaofeng Peng said in a statement.
LDK shares fell to $8.10 in extended trade after closing at $8.21 on the New York Stock Exchange.
(Reporting by Nichola Groom; Editing by Gary Hill)