? SHANGHAI, March 24, 2011 /PRNewswire via COMTEX/ -- JinkoSolar Holding Co., Ltd. (NYSE: JKS) ("JinkoSolar" or the "Company"), a fast-growing vertically integrated solar product manufacturer with low-cost operations based in China, announced today that Jinko Solar Co., Ltd. ("Jiangxi Jinko"), one of the Company's wholly owned subsidiaries, successfully issued unsecured short-term bonds with a principal amount of RMB300 million (the "Second Tranche Issue") pursuant to its plan to issue unsecured one-year short-term bonds with an aggregate principal amount of RMB600 million (the "Registered Issue") with the PRC National Association of Financial Market Institutional Investors ("NAFMII"), which was previously announced on January 13, 2011. The Second Tranche Issue was issued on March 22, 2011, and will mature on March 23, 2012. The Second Tranche Issue bears a fixed annual interest rate of 5.6%, lower than the current benchmark one-year lending rate of 6.1%. The First Tranche with a principal amount of RMB300 million was issued on January 13, 2011. Industrial Bank acted as the lead underwriter and bookrunner for the Second Tranche Issue with standby commitment. Approximately 83% of the proceeds will be used as working capital, and the remaining 17% will be used to repay bank loans of higher interest rates. Relevant legal documentation, including the offering circular and issuance announcement of the Second Tranche Issue, are published on the websites of ChinaMoney (http://www.chinamoney.com.cn) and ChinaBond (http://www.chinabond.com.cn). Mr. Longgen Zhang, chief financial officer of JinkoSolar, commented, "We are pleased to issue the second tranche early in the year, locking down a promisingly favorable interest rate as we expect China's lending interest rate to continue to rise against inflation. The issuance of our short-term bonds further illustrates the market affirmation of our strong performance as well as investor's confidence in our ability to continue to deliver positive results in the year to come."