LDK Solar Co. Ltd reported its eighth quarterly loss in a row and said that it was still in talks with its lenders and investors to refinance its roughly $3 billion of debt, Reuters reported yesterday. LDK is one of the most heavily indebted Chinese solar companies, with a majority of its debt due next year. The company, which said it hoped to complete its restructuring within 30 days, disclosed in April that it was in talks to refinance its debt after partially defaulting on a $24 million bond payment. LDK said that important investors including China Development Bank Corp. (CDB) were going through a restructuring proposal. CDB and creditors of China-based banks are offering a credit facility of 2 billion yuan ($326 million), including 440 million yuan for a polysilicon plant and 1.56 billion yuan for working capital.
