SHANGHAI, Dec. 19, 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
Hanwha SolarOne Co., Ltd. has
secured a three-year US$87 million
term loan facility (the "Loan") from the Export-Import Bank of
Korea (KEXIM). The loan will mature on December 29, 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 for
working capital including redemption of the company's convertible
senior notes with a January 15, 2015
put option. The Company previously announced a three-year
US$23 million term loan facility from
KEXIM to its Qidong subsidiary on December
15, 2014.
Mr. Jay SEO, Chief Financial Officer of Hanwha SolarOne,
commented, "This new loan provides
us with additional flexibility in supporting near-term debt
obligations as well as the future growth of the company. KEXIM is a
valued financial partner and continues to support our company in a
significant way. We believe access to overseas capital at attract
rates provides us with a distinct advantage." Mr. SEO concluded,
"The two most recent loans from KEXIM allows us to improve our
balance sheet and provides us with additional resources to start
the new year."
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.