Published on 3/5/2013 in the Prospect News Emerging Markets Daily.
New Issue: Hong Kong's PCCW sells $500 million 3¾% 10-year notes at Treasuries plus 200 bps
By Christine Van Dusen
Atlanta, March 5 - PCCW Ltd. sold $500 million 3¾% notes due March 8, 2023 (expected ratings: Baa2/BBB/) at 98.785 to yield 3.898%, or Treasuries plus 200 basis points, a market source said.
DBS, HSBC, Standard Chartered Bank, ANZ and Morgan Stanley were the bookrunners for the Regulation S deal.
PCCW is a Hong Kong-based telecommunications company.
Issuer: | PCCW Ltd.
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Amount: | $500 million
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Maturity: | March 8, 2023
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Description: | Senior notes
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Bookrunners: | DBS, HSBC, Standard Chartered Bank, ANZ, Morgan Stanley
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Coupon: | 3¾%
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Price: | 98.785
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Yield: | 3.898%
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Spread: | Treasuries plus 200 bps
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Trade date: | March 5
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Settlement date: | March 8
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Expected ratings: | Moody's: Baa2
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| Standard & Poor's: BBB
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Distribution: | Regulation S
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