IPBC follows suit

Richard Li''s internet joint venture with Telstra has agreed to pay more for its finance to keep its banking relationships intact.

IP Backbone Company IPBC - the internet protocol joint venture between PCCW and Telstra - has agreed to pay more to its bankers for its fully underwritten $1.5 billion loan signed in December. The move comes just a couple of days after another PCCW subsidiary - HKTC - agreed to pay more for its fully underwritten loan, and as borrowing costs for global telecom companies continue to rise due to bank overexposure to telecom debt.

The change in...

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