Hanwha Solarone Co Ltd (NASDAQ:HSOL) provides PhotoVoltalic module processing service


Boston, MA, 06/28/2013 (financialstrend) – The share prices of Hanwha Solarone Co Ltd (NASDAQ:HSOL) had been traded in the price range of $1.90 and $2.18 per share on Thursday. The share price of the company had gradually advanced by 8.51 percent more than the previous day. The share price of Hanwha Solarone Co Ltd (NASDAQ:HSOL) does not make any effect in the 52 week high value $2.20 and 52 week low value $0.77.

Hanwha Solarone Co Ltd (NASDAQ:HSOL) is an integrated manufacturer of silicon wafers, silicon ingots, PV modules and photovoltaic cells in China. The Company also provides services for PhotoVoltalic module processing. It sells PV modules and PV cells both directly to through third party distributors and system integrators.

The company has announced today that its wholly-owned subsidiary Hanwha SolarOne Co., Ltd., has obtained a three year US$100 million term loan facility known as the “Loan” from the Export – Import Bank of Korea (KEXIM). The maturing time of the loan is on June 25, 2016 along with principal payment to be made at maturity. The interest rate floats on the basis of three month LIBOR, in addition with 1.99 percent per annum. For basically working capital purposes the proceeds of the loan would be used. The CEO and Chief Financial Officer (CFO) of Hanwha SolarOne, Mr. Jay explained that, “this new capital will help to enhance our ability to continue our shift of loans to longer term from short term, current working capital needs are supported, and allows some flexibility in developing Company’s business strategies for the future.” He further concluded that the Company is continuing to be fortunate from offshore sources to access relatively low-cost funding.

The market capitalization value is nearly 202.54 million and institutional investors share’s value is about 4 percent. The Hanwha Solarone Co Ltd (NASDAQ:HSOL) had a trading volume as 3.17 million and the average volume as 1.34 million per day on Thursday. The company presently holds outstanding share values as 99.28 million on Thursday.