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Hanwha SolarOne Gets $481 Million Bank of Beijing Credit Line

Dec. 27 (Bloomberg) -- Hanwha SolarOne Co., a Chinese maker of solar modules, got a 3 billion yuan ($481 million) credit line from Bank of Beijing Co. for the next 12 months.

Drawdown of specific amounts are subject to the bank’s approvals, the company said today in a statement on its website. The loan will help “manage and grow our business to exploit downstream project opportunities in China and abroad,” Chief Financial Officer Jay Seo said in the statement.

The Shanghai-based company is a unit of South Korea’s Hanwha Group.

To contact the reporter on this story: Feifei Shen in Beijing at fshen11@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

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