September 20, 2010 02:01 ET

Q-Cells and LDK Solar: early loan repayment and adjustment of the solar wafer supply contract

BITTERFELD-WOLFEN, GERMANY--(Marketwire - September 20, 2010) -

Q-Cells SE / Q-Cells and LDK Solar: early loan repayment and adjustment of the solar wafer supply contract processed and transmitted by Hugin AS. The issuer is solely responsible for the content of this announcement.

Bitterfeld-Wolfen (Germany), 20 September 2010: Q-Cells SE (QCE; ISIN DE0005558662) has reached an agreement with the Chinese company LDK Solar to repay the loan extended to LDK Solar by Q-Cells in 2008 early (originally an advance payment for raw material supplies) and to adjust the existing solar wafer supply contract. The early repayment of the loan will strengthen Q- Cells' liquidity position and is a major step forward in the long term financing of the company. Q-Cells has two outstanding convertible bonds. Repayment of EUR492.5 million for the first of these is due in February 2012.

LDK Solar will repay the loan granted by Q-Cells, which currently stands at USD 224.9 million (ca. EUR170 million), in its entirety by the end of 2011. Payments of USD 195.0 million (ca. EUR150 million) from LDK Solar have been agreed until the end of 2010. An initial payment of USD 56.2 million (approximately EUR44 million) has already been made. Previously, the repayment schedule envisaged staged repayment up to the end of 2015. In return, the existing bank guarantee, with which the Q-Cells loan is secured will be reduced in stages and replaced by other collateral.

At the same time, both parties reached agreement on adjusting the prices for the existing supply contract for solar wafers. In addition until 2018, flexible prices will continue to apply for the entire term of the contract. These will be in line with the market price, and be determined on a quarterly basis.

For more information please contact:

Q-Cells SE
OT Thalheim
Sonnenallee 17 - 21
06766 Bitterfeld-Wolfen

Investor Relations:
Stefan Lissner
Tel.: +49 - (0)3494 - 6699 10101

Corporate Communications:
Ina von Spies
Tel.: +49 - (0)3494 - 6699 10121


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Q-Cells SE
 OT Thalheim, Sonnenallee 17-21  Bitterfeld-Wolfen Germany

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