Hanwha SolarOne announced that its wholly-owned subsidiary Hanwha SolarOne has secured a three-year US$23 million term loan facility from the Export-Import Bank of Korea (KEXIM).

The loan will mature on December 11, 2017 with payment of principle to be made at maturity. The interest rate floats with the three-month LIBOR, plus 1.83% per annum. The loan proceeds will be used primarily for working capital purposes. The company previously received a three-year US$100 million term loan facility from KEXIM in June 2013.

Hanwha SolarOne is a photovoltaic module manufacturer, providing cost-competitive, high quality PV modules.