First Solar Inc. (FSLR) disclosed Wednesday that it terminated last week a credit agreement with "several financial institutions" that was set to mature in July 2022. J.P. Morgan Chase Bank was the administrative agent of the credit agreement. The revolving credit facility had a borrowing capacity of $500 million, but the solar power systems company said that as of June 30 it had now borrowings under the revolver. The company said it had $3.3 million in issued and outstanding letter of credit. First Solar's stock, which was still inactive in premarket trading, has rallied 12.6% over the past three months while the S&P 500 has gained 6.5%.
-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com
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