Hutchison plans $1b loan: Sources

Hutchison plans $1b loan: Sources

HONG KONG: Hong Kong-listed telecom operator Hutchison
Telecommunications International Ltd. (HTIL) is planning to
launch a US$1 billion syndicated loan this week to finance
expansion in India, Indonesia and Vietnam, people close to the
deal said on Monday.

The company and its team of banks -- including HSBC Holdings,
Standard Chartered, Calyon, ABM Amro and WestLB -- are set to
meet on Wednesday to finalize the details of the loan, the
sources said.

HTIL, which is a unit of conglomerate Hutchison Whampoa Ltd.
controlled by Hong Kong tycoon Li Ka-shing, declined to comment.

HTIL plans to invest HK$4 billion in India -- the company's
largest revenue contributor -- over the next three years to
expand its mobile operations into a network that covers the
entire country.

In Southeast Asia, the company will launch mobile services in
Vietnam in the first quarter of 2006, and in Indonesia in the
second quarter. -- Dow Jones