By Lisa Kerner
Charlotte, N.C., Dec. 15 – Hanwha Solar One Co. Ltd. subsidiary Hanwha SolarOne (Qidong) Co., Ltd. secured a three-year $23 million term loan facility from the Export-Import Bank of Korea.
The loan matures on Dec. 11, 2017 with payment of principle to be made at maturity, according to a company news release.
The interest rate is Libor plus 183 basis points.
Proceeds will be used for working capital purposes.
Hanwha received a three-year $100 million term loan facility from the bank in June 2013.
“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,” chief financial officer Jay Seo said in the release. “We continue to focus on improving our balance sheet, structuring debt over longer periods and enhancing our working capital position.”
Hanwha SolarOne is a Shanghai-based global photovoltaic manufacturer of solar modules.
| Issuer: | Hanwha SolarOne (Qidong) Co., Ltd.
|
| Facility: | Term loan
|
| Issuer: | Export-Import Bank of Korea
|
| Amount: | $23 million
|
| Interest: | Floating rate, Libor plus 183 bps
|
| Maturity: | Dec. 11, 2017
|
| Announced: | Dec. 15
|
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