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.
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