PCW - Pacific Century CyberWorks Limited Message Board

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Technology Stocks : PCW - Pacific Century CyberWorks Limited

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To: ms.smartest.person who wrote (28)	1/11/2001 11:58:05 AM
From: ms.smartest.person	Read Replies (1) of 2248

HK CyberWorks:Higher Rates On Loans Put No Extra Pressure Thursday, January 11 6:39 PM SGT HONG KONG (Dow Jones)--The increase in interest rate margins for two of Pacific Century CyberWorks' (PCW) loans will not put additional financial pressure on the company, Deputy Chairman Francis Yuen said Thursday. "(Our) financial pressure is about the same," Yuen said. "The effect (of rising rates on the loans) is offset by the rate cut," he added. Hong Kong commercial banks last week lowered their key savings rate by 50 basis points to match a rate cut in the U.S. CyberWorks Friday increased the interest rate for a US$4.7 billion syndicated loan to refinance its takeover of Cable & Wireless HKT, due to tepid response among banks. Tuesday, it also raised the rate for a US$1.5 billion loan for its 50-50 Internet Protocol joint venture with Australia's Telstra Corp. (TLS). (MORE) Dow Jones Newswires 11-01-01 1039GMT Copyright (c) 2000, Dow Jones & Company Inc asia.biz.yahoo.com

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