JA Solar Holdings Co. Ltd. has closed two three-year-term loans in the aggregate principal amount of RMB 620 million (approximately $90.8 million) from the Export-Import Bank of China.
Both loans carry interest rates that are below the benchmark interest rate set by the People's Bank of China, the company says.
‘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,’ says Baofang Jin, executive chairman of JA Solar. ‘These loans also lower JA Solar's overall cost of capital and offers us greater flexibility for financial and business planning.’
SOURCE: JA Solar Holdings Co. Ltd.