Formerly About Applied Materials Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Formerly About Applied Materials

AMAT 327.03

+2.5%

3:59 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: StanX Long who wrote (58760)	1/14/2002 1:57:56 AM
From: StanX Long	Read Replies (1) of 70976

I am not sure what this means nor it's impact. Monday January 14, 1:00 PM PCCW parent to issue US$100-million bonds to Intel unit sg.news.yahoo.com HONG KONG (Reuters) - Pacific Century Regional Developments Ltd said on Monday it would issue US$100 million in exchangeable bonds due 2006 to 2007 to Intel Capital Corp, a unit of U.S. semiconductor giant Intel Corp. PCRD, the parent of Hong Kong telecoms and Internet firm Pacific Century CyberWorks, said in a statement the bonds allowed holders to exchange into PCCW shares at HK$2.50 each, representing 1.4 percent of existing PCCW shares. PCRD currently holds a 33.5 percent stake in PCCW. Both firms are controlled by 35-year-old tycoon Richard Li. Peter Allen, chief financial officer of PCRD, said the deal improves PCRD's financial flexibility and "gives us a solid investor that we would like to have as a long term investor in PCCW." Allen said the rationale for the deal is similar to that of a US$250 million exchangeable bond it issued in October to private investors including units of insurance giant American International Group Inc and AIG-sponsored funds. "We're keen on these financial instruments, but only with the right kind of partners where we see there's some strategic value in the relationship," Allen said in a phone interview. Intel spokeswoman Josie Taylor said, "we continue to invest in companies that accelerate the Internet economy." The coupon on the bonds is payable semi-annually on the principal value of the bonds at a rate of three percent per annum, PCRD said. PCCW shares dipped 1.1 percent on Monday to HK$2.25, while PCRD shares were unchanged at S$0.63.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next