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Technology Stocks : PCW - Pacific Century CyberWorks Limited
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To: ms.smartest.person who wrote (2005)11/2/2001 10:09:38 PM
From: ms.smartest.person  Read Replies (1) of 2248
 
HK PCCW Issues JPY30B 30Y 3.65% Eurobond Via Merrill
Updated: Thursday, October 18, 2001 06:15 AM ET


HONG KONG (Dow Jones)--Hong Kong telecom company Pacific Century CyberWorks Ltd. (PCW, news, msgs) is offering JPY30 billion of Eurobonds via Merrill Lynch Thursday.

Terms for the issue are as follows:

Amount: JPY30 Bln

Maturity: Oct. 26, 2031

Coupon: 3.65%

Issue Price: At Par

Payment date: Oct. 26

Debt Rating(s): Baa1 (Moody's)

BBB (Standard & Poor's)

Guarantor: PCCW-HKT

PCCW said in a statement that the notes are guaranteed by PCCW-HKT Telephone Ltd., PCCW's Hong Kong fixed telephone line unit.

The notes also include a call option that gives PCCW the right to redeem the notes after five years.

Proceeds from the bond will go toward general working capital and other purposes, PCCW said.

An official at Merrill Lynch, which acted as sole arranger for the deal, noted that the Euroyen bond was fully sold in Japan.

The Euroyen offer, which is worth the equivalent of about US$250 million, comes about three months after PCCW canceled a US$2.5 billion 10-year bond offer because of market conditions.

-By Mia Trinephi, Dow Jones Newswires; (+852) 2832 2339; mia.trinephi@dowjones.com
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