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Technology Stocks : Pacific Century CyberWorks (PCW, PCWKF)
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To: ms.smartest.person who wrote (4398)1/7/2001 11:06:08 PM
From: ms.smartest.person  Read Replies (1) of 4541
 
R Or admits some bks worries high risk on PCCW's loan

2001-01-05 17:24

(Infocast News) Raymond Or, General Manager of Hongkong Bank, admitted that some banks hope Pacific Century CyberWorks (0008) to widen the interest rate spread of the US$4.7 billion since they are worried about the higher risk involved in the loans. Yet he underlined that not all of the banks have such worry. He is fully confident about the completion of the facility of PCCW after the increase in the interest spread.

Or explained that the interest margins of the refinancing for PCCW have to be raised due to the market changes, and that the revised interest margin of loans for PCCW are similar to those for AT&T and British Telecom.

He predicted that the interest expenses of PCCW would be lowered if the interest rates in the US and Hong Kong are reduced continuously.



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