PCW - Pacific Century CyberWorks Limited Message Board

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Technology Stocks : PCW - Pacific Century CyberWorks Limited

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To: pennywise who started this subject	7/10/2001 10:49:20 AM
From: ms.smartest.person	Read Replies (1) of 2248

HK PRESS: Invest Banker Says HK PCCW Bond Size Could Grow Dow Jones Newswires HONG KONG -- Pacific Century CyberWorks Ltd.'s (PCW) proposed US$2.5 billion bond issue could swell to as much as US$3.8 billion, reports the South China Morning Post. An investment banker who attended the Hong Kong open of a road show to market the bonds said the larger amount was raised during the question-and-answer period, according to the Post. PCCW spokeswoman Joan Wagner wouldn't comment directly on the issue, saying only that "we have launched the road show and are talking to investors about our financing options." However, the talk coming from the road show's opening day is that the higher amount merely represents an ideal situation in which the company could refinance a larger portion of its debt, rather than a specific plan. PCCW is launching the bond in an effort to head off a potential credit crunch in 2005, when 46% of its total debt is scheduled to mature. To extend the duration on its outstanding debt, its unit PCCW-HKT plans to sell US$2.5 billion of 10- and 30- year bonds. -By Dow Jones Newswires; 852-2802-7002; djnews.hongkong@dowjones.com -0- 10/07/01 00-57G -------------------------------------------------------------------------------- URL for this Article: interactive.wsj.com -------------------------------------------------------------------------------- Copyright © 2001 Dow Jones & Company, Inc. All Rights Reserved. Printing, distribution, and use of this material is governed by your Subscription Agreement and copyright laws. For information about subscribing, go to wsj.com Used with permission of wsj.com

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