SHANGHAI, July 27 /PRNewswire-FirstCall/ -- JA Solar Holdings Co., Ltd. (Nasdaq: JASO), a leading manufacturer of high-performance solar products, today announced that it 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 favorable interest rates that are below the benchmark interest rate set by the People's Bank of China.
 
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"We are pleased to receive continued support from tier-1 domestic Chinese banks," said Baofang Jin, executive chairman of JA Solar. "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," he said.
 
About the Export-Import Bank of China
 
Based in Beijing with numerous domestic branches and world-wide representative