China Sunergy Signs US$160 Million Financing and Credit Facility from China Development Bank

China Sunergy Co., Ltd. CSUN to announces the signing of US$160 million in financing and credit facilities from China Development Bank to help fund its growth. The contracts with CDB were signed by China Sunergy's two domestic subsidiaries, China Sunergy (Nanjing) Co., Ltd. and CEEG (Nanjing) Renewable Energy Co., Ltd., the latter of which was acquired from affiliated company CEEG in November 2010. The facilities include a combination of both long-term and short-term loans. These credit facilities will be used in cell capacity expansion and as working capital, which will allow China Sunergy to pursue market opportunities in a timely manner and contribute to its long-term growth and competitiveness.