Hanwha SolarOne Secures Three-year $23 Mln Term Loan Facility

(RTTNews) - Hanwha SolarOne Co. Ltd. (HSOL, SOLF), a photovoltaic manufacturer of solar modules, said its wholly-owned subsidiary Hanwha SolarOne (Qidong) Co., Ltd. has secured a three-year $23 million term loan facility from the Export-Import Bank of Korea or KEXIM.

The loan will mature on December 11, 2017 with principle to be paid at maturity. The interest rate floats with the three-month LIBOR, plus 1.83 percent per annum.

The loan proceeds will be used primarily for working capital purposes. The company previously received a three-year $100 million term loan facility from KEXIM in June 2013.