City Telecom $110 million notes talked in 8¾% area

By Paul A. Harris

St. Louis, Jan. 11 - City Telecom (H.K.) Ltd.'s $110 million of 10-year senior notes due 2015 (Ba3/BB-) are talked in the 8¾% area, according to an informed source.

The notes, which will mature in 2015, are expected to price late Wednesday or early Thursday.

Citigroup is the bookrunner for the Rule 144A/Regulation S offering.

Proceeds will be used to repay HK$196.7 million of bank debt, for capital expenditures, which may include the costs of expanding the company's Metro Ethernet network in Hong Kong, and for working capital and general corporate purposes.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.