Hanwha SolarOne subsidiary gains US$23 million loan

Global PV module manufacturer, Hanwha SolarOne’s Qidong, Jiangsu subsidiary has been given a US$23 million loan.

The loan is from the Export-Import Bank Korea (KEXIM) and will mature 11 December 2017, with interest – subject to currency rate increases – at 1.83% a year. The company said it will be used for working capital.

Jay Seo, chief financial officer of Hanwha SolarOne said the company will “continue to focus on improving our balance sheet, structuring debt over longer periods and enhancing our working capital position".

Hanwha also received a three year term, US$100 million loan from KEXIM in June 2013.