JA Solar Holdings closes two loans with Export-Import Bank of China for solar products

28 July 2009

JA Solar Holdings secures loans with Export-Import Bank of China

JA Solar Holdings Co, a Shanghai-based manufacturer of solar products, has closed two three-year term loans totaling RMB620m ($90.8m) from the Export-Import Bank of China.

‘We are pleased to receive continued support from tier-1 domestic Chinese banks,’ said Baofang Jin, executive chairman of JA Solar. ‘The closing of these three-year loans at favorable interest rates shows strong financial support from the Export-Import Bank of China for JA Solar and will further strengthen JA Solar’s balance sheet and financial position for future strategic growth initiatives.

‘These loans also lower JA Solar’s overall cost of capital and offers us greater flexibility for financial and business planning,’ Jin added.

The Export-Import Bank of China is a Beijing-based government policy bank under the leadership of the State Council, which seeks to implement the state policies in industry, foreign trade, diplomacy, economy and finance to provide policy financial support to promote the export of Chinese mechanical and electronic products.

Copyright © 2009 NewNet

Tags: solar

This story was published on Tuesday, July 28th, 2009 at 2:42 pm and is filed under Asia, deals, solar. You can follow any responses to article entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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