Hanwha SolarOne Hong Kong Limited Issues Three-year US$100 Million Floating
SHANGHAI, Jan. 14, 2012
SHANGHAI, Jan. 14, 2012 /PRNewswire/ -- Hanwha SolarOne Co., Ltd. ("SolarOne"
or the "Company") (Nasdaq: HSOL), a vertically integrated manufacturer of
silicon ingots, wafers and photovoltaic ("PV") cells and modules in China,
today announced that its wholly-owned subsidiary, Hanwha SolarOne Hong Kong
Limited, has entered into a subscription agreement with Samsung Securities
(Asia) Ltd. and Kookmin Bank Hong Kong Ltd. to issue three-year US$100 million
floating rate notes (the "Notes") outside the United States. The notes will be
guaranteed by Hanwha Chemical Corporation (the holding company of the
company's largest shareholder). The notes will mature on January 15, 2016 with
payment of principle to be made at maturity. The interest rate floats with the
three-month LIBOR. The proceeds from the issuance will be used for general
working capital purposes.
Mr. Jay SEO, Chief Financial Officer of Hanwha SolarOne, commented, "we are
pleased to continue to have access to necessary capital to grow our business
and manage our way through the current industry downturn. We believe our
strong presence in the market, along with the backing of our parent, allows us
to source capital both in mainland China and offshore. This new facility,
combined with the recent US$475 million credit agreement with the Bank of
Beijing to fund project development, gives us a solid foundation in required
financial resources as we enter the year 2013."
About Hanwha SolarOne
Hanwha SolarOne Co., Ltd. (NASDAQ: HSOL) is one of the top 10 photovoltaic
manufacturers in the world, providing cost-competitive, high quality modules.
It is the flagship company of Hanwha Solar, the solar business network of
Hanwha Group, a Fortune 500 company. Hanwha SolarOne serves the utility,
commercial, government and residential markets in a growing network of
third-party distributors, OEM manufacturers and system integrators. The
Company maintains a strong presence worldwide, with employees located
throughout Europe, North America and Asia, and embraces environmental
responsibility and sustainability, with an active role in the voluntary
photovoltaic recycling program. For more information, please visit:
The Notes have not been and will not be registered under the Securities Act of
1933, as amended (the "Securities Act") and may not be offered or sold in the
United States or to U.S. persons unless an exemption from the registration
requirements of the Securities Act is available. This announcement does not
constitute an offer of any securities for sale.
SOURCE Hanwha SolarOne Co., Ltd.
Contact: Hanwha SolarOne Co., Ltd., Investor Contact, Paul Combs, V.P.
Investor Relations, (Add.) Building 1, 18th Floor, Minsheng Road, Shanghai,
PRC 200135, (Tel.) +86-21-3852-1533, (Mobile) +86-138-1612-2768,
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