SHANGHAI, CHINA: Hanwha SolarOne Co. Ltd has obtained, through the company's wholly owned subsidiary Hanwha SolarOne Hong Kong Ltd, a three-year $180 million syndicated term loan facility led by The Korea Development Bank, Standard Chartered Bank (Hong Kong) Ltd, KEB Hong Kong Branch, KDB Asia Ltd, and KEB Asia Finance Ltd. The loans will be denominated in US dollar and will be guaranteed by Hanwha Chemical Corp.
Jay SEO, CFO of Hanwha SolarOne, said: "This new $180 million term loan facility will provide SolarOne with important additional funds to sustain further developments in technology and downstream projects, plus enhance our existing marketing and branding strategies to boost customer awareness and sales for SolarOne products. The new term loan facility will also give us additional financial flexibility in the current business environment. We are very pleased to have further diversified our banking relationships globally."