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Media Release
18 August 2004
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.
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."
About Hutchison Telecommunications (Australia) Limited
Hutchison is a listed Australian company whose principal activities are the operation of its Orange Mobile and Paging businesses and the development and implementation of Australia's first third generation (3G) network, 3.
Hutchison is 57.8% owned by HWL, a Hong Kong based multinational conglomerate and one of the largest foreign investors in Australia. A further 12.5% is owned by Leanrose Pty Limited, a private company of the Roberts-Thomson family who founded Hutchison's business in the 1980s. The balance is held by public shareholders.
Contact
Karen Mazor
Investor Relations
T: (02) 996 44885
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