JA Solar Gets Loans from Ex-Im Bank of China

JA Solar has closed two three-year term loans in the aggregate principal amount of RMB 620 million [US $90.8 million] from the Export-Import Bank of China.

JA Solar said that both loans from the Export-Import Bank carry favorable interest rates that are below the benchmark interest rate set by the People’s Bank of China.

“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,” said Baofang Jin, executive chairman of JA Solar.

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