July 10 (Solar) – Chinese solar power products maker JA Solar Holdings Co Ltd (NASDAQ:JASO) has secured a loan to fund the procurement of equipment at its 1.5-GW wafer manufacturing facility in Vietnam.
The company said today its wholly-owned subsidiary JA Solar Vietnam Co Ltd has agreed a long-term buyer credit loan of up to USD 68.4 million (EUR 58.4m) with the Shijiazhuang branch of China Minsheng Bank Corp Ltd (HKG:1988). The loan facility has a term of seven years.
Parent JA Solar added that it will provide corporate guarantee against the loan under a guarantee agreement it has signed with the lender.
(USD 1 = EUR 0.853)