Paul Hastings, a leading global law firm, announced today that it represented the managers, led by Samsung Securities (Asia) Ltd., in Hanwha SolarOne Hong Kong Limited’s issuance of US$100 million offshore floating rate notes. The notes, issued outside the United States, are guaranteed by Hanwha Chemical Corporation and are due in 2016.
Hanwha SolarOne Hong Kong Limited is a wholly-owned subsidiary of Hanwha SolarOne Co. Ltd., a vertically integrated manufacturer of silicon ingots, wafers and photovoltaic cells and modules in China. The proceeds from the issuance will be used for general working capital purposes.
This transaction is notable as the notes are USD-denominated, issued by a Hong Kong issuer, and guaranteed by its indirect Korean parent company.
The Paul Hastings team was led by of counsel Dong Chul Kim with support from associate Steve Kang, both of whom are based in the firm’s new Seoul office.
