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$1.5 Billion Bank Loan Facility for 3G Business |
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19th August ,2004 |
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The competitively priced Australian dollar facility will be used for refinancing H3GA's current short-term bilateral arrangements and for general working capital requirements. The facility is fully guaranteed parent company Hutchison Whampoa Limited (HWL), which holds 57.82% interest in Hutchison. David Dyson, Hutchison's Chief Financial Officer said "the support the company is receiving from financial institutions as well as our major shareholder is extremely pleasing. "It reflects a recognition of the company's fundamental strengths and the opportunities to be realised from our growing position in the Australian mobile market. "This facility, in conjunction with existing funding and equity arrangements fully covers Hutchison's anticipated peak funding requirement of the 3G business." |
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Latest
PRESS RELEASES |
TODAY'S
PRESS RELEASES All Material Subject to Copyright. All logos, graphics and trademarks are the property of their respective owners. |
Australia
: Hutchison Telecommunications (Australia) Limited (Hutchison), today
announced its subsidiary Hutchison 3G Australia Pty Limited (H3GA)
had successfully secured a five year loan facility of $1.5 billion
from a syndicate of major local and international banks. 