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Technology Stocks : PCW - Pacific Century CyberWorks Limited

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To: ms.smartest.person who wrote (2122)1/25/2002 3:16:05 AM
From: ms.smartest.person  Read Replies (1) of 2248
 
HK PRESS: Banks Offer PCCW US$600M In Syndicated Loans
January 24, 2002

Dow Jones Newswires

HONG KONG -- A group of banks led by Citibank (C) has offered Pacific Century Cyberworks Ltd. (PCW) a syndicated loan package worth US$600 million to US$800 million to refinance PCCW's short-term debt, the Hong Kong Economic Times reports.

Citing unnamed sources, the paper said the banks are offering the loan to PCCW for it to use to refinance part of its US$2.3 billion in loans due in February 2006.

However, the paper said PCCW prefers to refinance its short-term tranche loans through the bond market so it can lock in its financing costs.

-By Dow Jones Newswires; 852-2802-7002; djnews.hongkong@dowjones.com

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