StanChart leads $180 mln facility for Hanwha SolarOne

Shanghai-based Hanwha SolarOne has acquired a three-year USD180 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 USD180 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.”

Hanwha SolarOne is a vertically integrated manufacturer of silicon ingots, wafers and photovoltaic cells and modules.