(Hong Kong, 3 July 2009) Comba Telecom Systems Holdings Limited (“Comba” or “the Group”, Hong Kong stock code: 2342), a leading wireless enhancement solutions provider, today signed an agreement in connection with a 3-year USD 85 Million Term Loan Facility (the“Facility”). The purpose of the Facility is to finance the Group’s capital expenditure, permanent working capital, 3G corporate development and expansion into the international market.
Coordinated by The Hongkong and Shanghai Banking Corporation Limited (“HSBC”), the Facility attracted the participation of China Minsheng Banking Corporation Limited, China Merchants Bank Co., Ltd, Bank of Ayudhya Public Company Limited, Bangkok Bank Public Company Limited, Cathay United Bank Co., Ltd, Xiamen International Bank, Hua Nan Commercial Bank, Ltd, Chang Hwa Commercial Bank, Ltd and Taiwan Business Bank who joined HSBC as Mandated Lead Arrangers. The Facility was increased to USD 85 million from the original target of USD 40 million on the back of overwhelming response, and marked the first successful new-money financing in the loan market embarked by a mid-cap corporate in Hong Kong since the start of the financial crisis.
The offering of this Facility is testament to the professionalism of the Comba management team, and also a vote of confidence by the banking community in the future direction and development of Comba.
Mr. Tony TL Fok, Chairman and President of Comba, said, “We are very pleased to have secured the Facility supported by so many renowned local and international banks, reflecting the confidence of the banking community in our good reputation and development prospects.The Facility will not only strengthen our capital base and provide us with abundant funds to boost R&D of 3G and next generation network products, but will also allow us to hasten development in the global telecom market and add vigor to achieve long-term growth.”