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Hanwha SolarOne Enters into RMB 3.0 Billion Credit Agreement with Bank of Beijing

Provides access to additional financial resources necessary to manage and grow business

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By: DAVID SAVASTANO

Contributing Editor, Coatings World and Ink World, Coatings World and Ink World Magazine

Hanwha SolarOne Co., Ltd. announced it has reached an agreement with the Bank of Beijing for access to up to RMB 3.0 Billion (approximately US$475 million) of credit over the next 12-month period. Drawdown of specific amount is subject to approval procedures of the Bank of Beijing, including review of specific project information, as applicable.

“This new credit facility provides us with access to the additional financial resources necessary to manage and grow our business to exploit downstream project opportunities in China and abroad,” said Jay Seo, chief financial officer of Hanwha SolarOne. “Additionally, we are pleased to have broadened our banking relationships within China to include another leading financial institution, the Bank of Beijing.”

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