The company says its Hong Kongsubsidiary has entered into a subscription agreement with Samsung Securities (Asia)and Kookmin Bank Hong Kong to issue the bonds outside the US.

The notes will be guaranteed byHanwha Chemical, the holding company of the firm's largest shareholder.

Last month Hanwha signed a $475m creditagreement with the Bank of Beijing to fund project development.

The upcoming bond issue and therecent credit agreement gives the company “a solid foundation in requiredfinancial resources” for 2013, says Jay Seo, chief financial officer.

“We