Posted at 2:00 p.m., Wednesday, December 5, 2007
Hoku takes step in lining up $185 million loan
Advertiser Staff
Hoku Scientific Inc., the Kapolei-based technology company, said it has signed a non-binding term sheet with Merrill Lynch to borrow up to $185 million.The company said the money would be used to construct, and start up the company's planned polysilicon production plant in Pocatello, Idaho.
The closing of the loan is subject to several conditions, including Hoku Scientific providing its Hoku Materials unit with about $35 million in cash for use in building the about $290 million plant. Hoku said it would have to secure additional financing to meet that and other capital requirements.
