Hanwha SolarOne's Subsidiary Obtains Three-Year US$100 Million Term-Loan
SHANGHAI, June 27, 2013
SHANGHAI, June 27, 2013 /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 (Qidong) Co.,
Ltd., has secured a three-year US$100 million term loan facility (the "Loan")
from the Export-Import Bank of Korea (KEXIM).The loan will mature on June 25,
2016 with payment of principal to be made at maturity. The interest rate
floats with the three-month LIBOR, plus 1.99 % per annum. The loan proceeds
will be used primarily for working capital purposes.
Mr. Jay SEO, Chief Financial Officer of Hanwha SolarOne, commented, "this new
capital will enhance our ability to support current working capital needs,
continues our shift of loans from short to longer term, and allows some
flexibility in developing our business strategies for the future." Mr. SEO
concluded, "We continue to be fortunate to access relatively low-cost funding
from offshore sources."
About Hanwha SolarOne
Hanwha SolarOne Co., Ltd. (NASDAQ: HSOL) is a vertically-integrated
manufacturer of silicon ingots, wafers, PV cells, and modules. Hanwha SolarOne
offers high-quality, reliable products, and services at competitive prices.
Partnering with third-party distributors, OEM manufacturers, and systems
integrators, Hanwha SolarOne serves the utility, commercial, government, and
residential markets. 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. Hanwha Group, Hanwha SolarOne's
largest shareholder, is active in solar project development and financing, and
plans to produce polysilicon in the future. For more information, please
SOURCE Hanwha SolarOne Co., Ltd.
Contact: Paul Combs, V.P. Investor Relations, Tel: +86 21 3852 1533, Mobile:
+86 138 1612 2768, email@example.com
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