(Hong Kong, 18 June 2014) Comba Telecom Systems Holdings Limited (“Comba Telecom” or “the Group,” Hong Kong stock code: 2342), a leading global wireless solutions provider, signs a US$125 million (approximately HK$975 million) three-year term loan facility (the “Facility”) today. The Facility will be used for repayment of an existing loan of the Group.
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 framework of the deal, HSBC acts as Facility agent.
Dr. Wilson Tong, Executive Director & Group Financial Controller of Comba Telecom, said, “We appreciate the backing of the banks as they continue to be highly supportive, long-term strategic partners. The terms of the Facility and the efficiency of its closing demonstrate the strong confidence that the banks have in the Group and the sustainability of our solid financial position. This Facility is expected to strengthen our working capital needs, enabling us to execute our long-term development plan, thus reinforcing our leading position in the global wireless solutions market.”
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