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Comba Telecom Guaranteed US$210 Million Three-year Term Loan Facility
Published on:
Hong Kong based Comba Telecom says that it has signed a US$210 million three-year term loan facility. The proceeds of the loan facility are to be used to finance the Group's production line expansion, business expansion, research and development expenditures and working capital.
The copmpany said that the response in the banking industry to the Facility has been overwhelming, which enabled the Facility to be upsized from the original target of US$150 million to US$210 million, with a tenure of three years.
Mr Tony TL Fok, Chairman of Comba Telecom, said, "Following our syndicated loan transactions in 2009 and 2010, we are very pleased to secure a new syndicated loan facility given current tightening credit market. This demonstrates our longstanding relationship with the participating banks, our sound capital position and prudent financial management, as well as the banking industry's recognition and confidence in the Group's future prospects. This Facility enables us to further optimize our capital structure and fuel our continued business development to maintain our competitiveness as a leading wireless solutions provider in the world."
Tags: [comba telecom] [Hong Kong]
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