SHIBORShanghai Interbank Offered Rate (China)
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264% of such remaining amount of the Preferred Obligations will be refinanced by an exchange into convertible notes of LDK Solar, bearing interest at 90% of SHIBOR and having a maturity of June 3, 2016, which may be either extended or paid with LDK Solar ordinary shares at 20-trading-day VWAP, in either case with the consent of holders of such convertible notes;
The interest rate is equal to current one-year SHIBOR (Shanghai Interbank Offered Rate) of 4.
The interest rate is based on current one year SHIBOR (Shanghai Interbank Offered Rate) of 4.