Hanwha SolarOne Co., Ltd. ("Hanwha SolarOne" or the "Company") (NASDAQ: HSOL), a vertically integrated manufacturer of silicon ingots, wafers and photovoltaic ("PV") cells and modules in China, announced it has obtained a five-year loan in an amount of USD100 million, led by Standard Chartered Bank and Korea Development Bank. The agreement provides for loans in USD.
Mr. Jay SEO, Chief Financial Officer of Hanwha SolarOne, commented, "We are pleased to expand our collaboration with Standard Chartered Bank and Korea Development Bank. The new loan facility provides us with the capital resources to fund our continued business expansion, and we view it as a critical component of our financial plan."