Comba Telecom Secures 3G Development Funding

Hong Kong listed manufacturer of wireless infrastructure kit, Comba Telecom Systems has signed an agreement in connection with a 3-year US$85 Million Term Loan Facility to finance the Group's capital expenditure, permanent working capital, 3G corporate development and expansion into the international market.

The Facility was increased to US$85 million from the original target of US$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.

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."

From its R&D and manufacturing base in Guangzhou, China, Comba develops and manufactures over 300 models of products, including repeaters, antennas, RF passive accessories and digital microwave systems.

Posted to the site on 6th July 2009