May 16, 2013 04:24 PM

Troubled Suntech Gets Extension on Repayment

By staff reporter Tian Lin

(Beijing) -- Suntech Power Holdings Co., one of the world's biggest makers of solar panels, said bondholders agreed to delay repayment of a US$ 540 million debt by another month and a half to June 28.

David King, CEO of the New York-listed Suntech, said in a statement that the agreement with bondholders would help Suntech continue negotiations with creditors in hopes of restructuring its debt.　　

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