Comba Telecom - Comba Telecom Guaranteed USD 130 Million Three-year Term Loan Facility

Hospitality

Hospitality industry is a very broad industry as it consists of hotels, cruise ships, restaurants and anything that covers tourism or for leisure. In today’s high-tech world, mobile technology and social media act as the platform for businesses to promote their services and offerings for customers to make reservations through tablets and phone apps. Customers are also able to praise or critique their experience directly through social media. Hence the success of businesses is dependent on customer’s satisfaction and their praises for the services.

Antennas & Subsystems

With a seasoned team of R&D engineers and its state-of-the-art design tools and testing equipment, Comba supplies customers with robust, cost-effective antennas based on its innovative patented designs. Its largest microwave anechoic chambers in the region, located in Guangzhou, China, has been used by many customers around the world as an accredited testing facility for antenna performance benchmarking. Comba’s Antenna & Subsystem division offers full range of wireless antenna and RF products for cellular systems.

Comba Telecom Guaranteed USD 130 Million Three-year Term Loan Facility

(Hong Kong, 5 July 2010) Comba Telecom Systems Holdings Limited (“Comba” or “the Group”, Hong Kong stock code: 2342), a leading wireless solutions provider, today signed a US$130 million (approximately HK$1 billion) three-year term loan facility (the “Facility”). The proceeds of the loan are to be used, to finance the Group’s capital expenditure for new R&D center and office construction, research and development initiatives, additional working capital as well as to refinance the 2009 syndicated loan facility to reduce interest expense.

The Facility has been coordinated by The Hongkong and Shanghai Banking Corporation Limited (“HSBC”), with another 12 participating financial institutions including Australia and New Zealand Banking Group Limited, Hang Seng Bank Limited, Svenska Handelsbanken AB (publ) Hong Kong Branch, Bank of Ayudhya Public Company Limited Hong Kong Branch, DBS Bank (Hong Kong) Limited, Bangkok Bank Public Company Limited, Cathay United Bank Company Limited Hong Kong Branch, Bank SinoPac Hong Kong Branch, Chang Hwa Commercial Bank Limited Hong Kong Branch, Industrial Bank of Taiwan Hong Kong Branch, Taiwan Business Bank Hong Kong Branch and Hua Nan Commercial Bank Limited Hong Kong Branch. As a result of oversubscription from the syndicated loan consortium, the loan amount was increased from the originally planed US$100 million to US$130 million, with a tenure of 3 years, at the interest rate of LIBOR plus 1.98% per annum. The overwhelming response reflects the confidence of the banking community in Comba’s business development and its continuous support.

Mr. Tony TL Fok, Chairman and President of Comba, said,” Following our oversubscribed syndicated loan transaction in 2009, I am pleased that the new Facility achieved another great success. The overwhelming support from the renowned local and international banks is a strong vote of confidence in our development strategy, the calibre of our management and brand reputation. The facility will not only provide abundant capital and facilitate business expansion in the long run, but also expedite component research and development, thereby affirming the leading position of our wireless enhancement products and technology.”

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(From left to right) Mr. Zhang, Mr. Albert Chan (Head of Commercial Banking, Hong Kong), Mr. Fok, Mr. Wallace Lam (Director, Debt Capital Markets, Global Capital Financing), Mr. Wilson Tong.