LDK Solar secures seventh extension on its overdue interest payments

Struggling Chinese solar manufacturer LDK Solar Co. Ltd. has reached a new 21-day forbearance arrangement with a majority of holders of its US dollar-settled 10% senior notes due in 2014. The forbearance agreement, which will expire Feb. 13, 2014, relates to unpaid interest payments that were due on Aug. 28, 2013. This is the seventh time LDK has won an extension on paying the interest payments. The previous 15-day forbearance arrangement expired on Jan. 23.

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