By Reshmi Basu
New York, July 13 - PCCW-HKTC Telephone Ltd. priced $500 million of 10-year bonds (Baa2/BBB) at 99.142 to yield 5.362% or a spread of Treasuries plus 120 basis points, according to a market source.
HSBC was the lead manager for the Rule 144A/Regulation S issue.
The issuer is a Hong-Kong-based fixed line operator.
Issuer: PCCW-HKTC Telephone Ltd.
| Amount: | $500 million
|
| Maturity: | July 20, 2015
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| Coupon: | 5¼%
|
| Price: | 99.142
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| Yield: | 5.362%
|
| Spread: | 120 basis points more than Treasuries
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| Pricing date: | July 13
|
| Settlement date: | July 20
|
| Lead manager: | HSBC
|
| Ratings: | Moody's: Baa2
|
| Standard & Poor's: BBB |
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