Trina +2.8% after pricing offerings

|About: Trina Solar Limited (TSL)|By:, SA News Editor

Trina (TSL) has priced its 8.8M-share stock offering at $11 - 11% below where shares traded when the company first announced the offering on Wednesday.

Trina's $150M offering of convertible notes due June 2019 involves an interest rate of 3.5%, and an initial conversion price of $14.30/share - 21% above current levels. Holders are expected to gain the right to require Trina to repurchase the notes in June 2017.

Excluding overallotment options, gross proceeds from the offerings are set to total $246.8M.