PCCW signed a HK$16bn (US$2.05bn) refinancing package on May 5.
The facility is split between a six-year HK$5bn term loan, a four-year HK$3bn term loan and a four-year HK$8bn revolving credit facility.
The HK$5bn and HK$3bn term loans pay margins of…
PCCW signed a HK$16bn (US$2.05bn) refinancing package on May 5.
The facility is split between a six-year HK$5bn term loan, a four-year HK$3bn term loan and a four-year HK$8bn revolving credit facility.
The HK$5bn and HK$3bn term loans pay margins of 115bp over HIBOR and 90bp over HIBOR respectively.
The debt package is understood to have fared well in the lending market with 21 local and international banks committing to the facility.
ANZ, Bank of China, Bank of Tokyo Mitsubishi, BNP Paribas, Commercial Bank of China, Credit Agricole, DBS Bank, Hang Seng Bank, HSBC, Mizuho, Oversea-Chinese Banking Corporation, RBS and Standard Chartered were all among the lenders.
The proceeds of the loan will be used to refinance part of the circa US$3bn facilities signed in September 2008 and due to expire November 2011.