Hanwha SolarOne has acquired a three-year US$180 million syndicated term loan facility led by The Korea Development Bank, Standard Chartered Bank (Hong Kong), KEB Hong Kong Branch, KDB Asia and KEB Asia Finance. The loans will be denominated in US dollar and will be guaranteed by Hanwha Chemical Corporation.
Jay SEO, chief financial officer of Hanwha SolarOne, said, “This new US$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.”