(Hong Kong, 26 June 2012) Comba Telecom Systems Holdings Limited (“Comba Telecom” or “the Group”, Hong Kong stock code: 2342), a global leading wireless solutions provider, today signed a US$210 million (approximately HK$1.63 billion) three-year term loan facility (the “Facility”). The proceeds of the loan facility are to be used to finance the Group’s production line expansion, business expansion, research and development expenditures and working capital.
A total of five financial institutions participated in the Facility, namely Bank of China (Hong Kong) Limited, The Hongkong and Shanghai Banking Corporation Limited, Svenska Handelsbanken AB (publ), Hong Kong Branch, Hang Seng Bank Limited and Standard Chartered Bank (Hong Kong) Limited. Response in the banking industry to the Facility has been overwhelming, which enabled the Facility to be upsized from the original target of US$150 million to US$210 million, with a tenure of three years.
Mr Tony TL Fok, Chairman of Comba Telecom, said, “Following our syndicated loan transactions in 2009 and 2010, we are very pleased to secure a new syndicated loan facility given current tightening credit market. This demonstrates our longstanding relationship with the participating banks, our sound capital position and prudent financial management, as well as the banking industry’s recognition and confidence in the Group’s future prospects. This Facility enables us to further optimize our capital structure and fuel our continued business development to maintain our competitiveness as a leading wireless solutions provider in the world.”
Mr Tony TL Fok, Chairman (middle), Mr Zhang Yue Jun, Vice Chairman & President (left 5), Mr Wilson Tong, Executive Director & Group Financial Controller of Comba Telecom (right 5) and the participating banks’ representatives of the Facility at the signing ceremony