Jan. 14, 2012
/PRNewswire/ -- Hanwha SolarOne Co., Ltd. ("SolarOne" or the "Company") (Nasdaq: HSOL), a vertically integrated manufacturer of silicon ingots, wafers and photovoltaic ("PV") cells and modules in
, today announced that its wholly-owned subsidiary, Hanwha SolarOne Hong Kong Limited, has entered into a subscription agreement with Samsung Securities (
) Ltd. and Kookmin Bank Hong Kong Ltd. to issue three-year
floating rate notes (the "Notes") outside
the United States
. The notes will be guaranteed by Hanwha Chemical Corporation (the holding company of the company's largest shareholder). The notes will mature on
January 15, 2016
with payment of principle to be made at maturity. The interest rate floats with the three-month LIBOR. The proceeds from the issuance will be used for general working capital purposes.
Mr. Jay SEO, Chief Financial Officer of Hanwha SolarOne, commented, "we are pleased to continue to have access to necessary capital to grow our business and manage our way through the current industry downturn. We believe our strong presence in the market, along with the backing of our parent, allows us to source capital both in mainland
and offshore. This new facility, combined with the recent
credit agreement with the Bank of
to fund project development, gives us a solid foundation in required financial resources as we enter the year 2013."
About Hanwha SolarOne
Hanwha SolarOne Co., Ltd. (NASDAQ: HSOL) is one of the top 10 photovoltaic manufacturers in the world, providing cost-competitive, high quality modules. It is the flagship company of Hanwha Solar, the solar business network of Hanwha Group, a Fortune 500 company. Hanwha SolarOne serves the utility, commercial, government and residential markets in a growing network of third-party distributors, OEM manufacturers and system integrators. The Company maintains a strong presence worldwide, with employees located throughout
, and embraces environmental responsibility and sustainability, with an active role in the voluntary photovoltaic recycling program. For more information, please visit: