PCCW sells $500 million bond

The Hong Kong telecom company returns to the international debt markets after a five-year absence and draws huge demand, allowing the deal to be upsized from an initial target of $300 million.

Hong Kong telecom company PCCW surprised markets on Thursday by pricing a $500 million five-and-a-half-year Reg-S bond. There had been no warning that PCCW would print, but on the back of strong half-year results and amid relative quiet markets, the issuer saw the opportunity to execute a swift intra-day trade.

“Yields hit a number they were happy with, the results stirred a strong reaction and the market was in good shape,” said one source. “The combination of these factors...

To continue reading, please login or register for free

Click for more on: pccw | hong kong | hsbc | morgan stanley | rbs | standard chartered

Print Edition

FinanceAsia Print Edition

CONFERENCES

  • Green Bonds Southeast Asia

    25 May 2017  |  Singapore
    With Green Bonds globally reaching USD200 billion outstanding in 2016, from as little as 30bn just 4 years ago, can SE Asia corporations and ...
  • 2nd Compliance Summit Southeast Asia

    17 August 2017  |  Singapore
    The 2017 Compliance Summit Southeast Asia will take an in-depth look at the key compliance considerations today with a focus on regulation and new ...