Evergreen Solar Inc. (NASDAQ: ESLR) reported Wednesday that it has priced its $165 million offering of 13 percent convertible secured senior notes, which are due in 2015, according to Associated Press.

The offering, which was made to institutional buyers, is expected to close April 26.

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Evergreen said it will use the net proceeds from this offering to purchase $124.5 million of its senior notes due 2013 and intends to use the remainder for general corporate purposes, working capital and for further expansion of its manufacturing facility in Wuhan, China.

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