LDK Solar Enters 30-Day Forbearance Arrangement with Noteholders
LDK Solar. (NYSE: LDK) announced that it has entered into a 30-day forbearance arrangement with holders of a majority of the aggregate principal amount of its US$-Settled 10% Senior Notes due 2014 (the "Notes"). The forbearance arrangement, which expires on October 27, 2013, relates to the interest payment due under the Notes on August 28, 2013. That interest payment remains unpaid. LDK Solar is hopeful that the forbearance arrangement is the first step in achieving a consensual solution to its obligations under the Notes. It is LDK Solar's intention to find a consensual solution as soon as possible. As reported previously, LDK Solar has engaged Jefferies LLC as a financial advisor for strategic advice in connection with the Notes and LDK Solar's other offshore obligations. Holders of LDK Solar's offshore debt obligations may contact Augusto King at aking@Jefferies.com, or Steven Strom at sstrom@Jefferies.com, Lyndon Norley at lyndon.norley@Jefferies.com, or Richard Klein at rklein@Jefferies.com with any questions.
Sidley Austin is acting as counsel to LDK Solar, led by Thomas Albrecht at firstname.lastname@example.org, and Timothy Li at email@example.com. LDK Solar understands that Ropes & Gray LLP is acting as counsel to a