Telecom Ramblings

PR Archives:  LatestBy Company By Date


Press Release -- June 15th, 2015
Source: Comba Telecom
Tags:

Comba Telecom Guarantees US$200 Million Three-year Term Loan Facility

(15 June 2015, Hong Kong) – Comba Telecom Systems Holdings Limited (“Comba Telecom” or “the Group”, Hong Kong stock code: 2342), a global leading wireless solutions provider, signed a US$200 million (approximately HK$1,550 million) three-year term loan facility (the “Facility”) agreement today.

A total of four financial institutions have participated in the Facility including The Hongkong and Shanghai Banking Corporation Limited (“HSBC”), Bank of China (Hong Kong) Limited, China CITIC Bank International Limited and Hang Seng Bank Limited. Within the terms of the Facility agreement, HSBC acts as Facility agent. The Facility will be firstly used for repayment of the partial existing loans and indebtedness of the Group, and the remaining balance will be used to finance the Group’s working capital, business expansion, and research and development.

Dr. Wilson Tong, Executive Director & Group CFO of Comba Telecom, said, “Over the years, we have built good reputation in our cooperation with a number of banks riding on the Group’s practical business style and stable financial performance. The cooperation with four financial institutions again has also demonstrated their strong support and trust to the Group as in the past. The Facility will substantially enhance our working capital, which will further drive our business development and improve our R&D capability, thereby maintaining our leadership position in the global wireless solutions market.”

~ End ~

PR Archives: Latest, By Company, By Date