Huacan Photoelectric LED Project Finds $150 Million Six-Year Loan

Huacan Optoelectronics (Suzhou) Co., Ltd. has found a $150 million six-year loan for LED production projects.
The Suzhou Branch of China Development Bank was the lead bank with a loan of 140 million US dollars. Bank of Communications Suzhou Branch also participated in the loan of 10 million US dollars.
According to sources, the total income of the loan is in the middle of the interval of 300-400 basis points. After a two-year grace period, it is paid in installments every six months.
Huacan Optoelectronics, a parent company listed in Shenzhen, guarantees the loan and is backed by factories and equipment.
It is expected that the signing will be completed by the end of this month.
According to the company's previous notice, Huacan Optoelectronics (Suzhou) Co., Ltd. was established in August last year with an investment of 1.81 billion yuan, located in Zhangjiagang City, Jiangsu Province.
The predecessor of Huacan Optoelectronics Co., Ltd. is Wuhan Huacan Photoelectric Co., Ltd., which is the leading LED chip supplier in China. The company said that revenue for the first half of this year was 111.8 million yuan, and net profit was 14.29 million yuan, down 40 and 62 respectively from the same period of the previous year.

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