SHANGHAI, Dec. 14, 2014 /PRNewswire/ -- Hanwha SolarOne Co.
Ltd. (the "Company", or "Hanwha SolarOne"), a top-10 global
photovoltaic manufacturer of high-quality, cost-competitive solar
modules, today announced that its wholly-owned subsidiary Hanwha
SolarOne (Qidong) Co., Ltd. has
secured a three-year US$23 million
term loan facility (the "Loan") from the Export-Import Bank of
Korea (KEXIM). The loan will mature on December 11, 2017 with payment of principle to be
made at maturity. The interest rate floats with the three-month
LIBOR, plus 1.83% per annum. The loan proceeds will be used
primarily for working capital purposes. The Company previously
received a three-year US$100 million
term loan facility from KEXIM in June
2013.
Mr. Jay SEO, Chief Financial Officer of Hanwha SolarOne,
commented, "We appreciate the
continued support of KEXIM, providing a vote of confidence in the
company supported by its bankability and strong track record. The
company continues to demonstrate its ability to secure both
domestic and overseas financing at attractive rates, which will
prove advantageous for future growth in a competitive industry."
Mr. SEO concluded, "We continue to focus on improving our balance
sheet, structuring debt over longer periods and enhancing our
working capital position."
About Hanwha SolarOne
Hanwha SolarOne Co., Ltd. (NASDAQ: HSOL) is one of the top 10
photovoltaic module manufacturers in the world, providing
cost-competitive, high quality PV modules. It is a flagship company
of Hanwha Group, one of the largest business enterprises in
South Korea. Hanwha SolarOne
serves the utility, commercial, government and residential markets
through a growing network of third-party distributors, OEM
manufacturers and system integrators. The company maintains a
strong presence worldwide, with a global business network spanning
Europe, North America, Asia, South
America, Africa and the
Middle East. As a responsible
company committed to sustainability, Hanwha SolarOne is an active
member of the PV Cycle take-back and recycling program. On
December 8, 2014 the Company
announced the acquisition of Hanwha Q CELLS in an all-stock
transaction, which is expected to close during the first quarter of
2015 (see filings with the SEC for full disclosure). For more
information, please visit:
http://investors.hanwha-solarone.com.
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SOURCE Hanwha SolarOne Co., Ltd.