All eyes on PCCW refinancing

Refinancing of the PCCW loan is continuing apace, with underwriters scrambling for the chance to back a fresh facility.

The Asian capital markets are once again watching PCCW in anticipation of the successful refinancing of $4.1 billion of the firm's $12 billion bridging loan. Officials at PCCW have already said they have basically closed the books on the new loan, although they are a bit coy about the details. A final announcement is due this Friday, November 10.

According to sources close to the deal, PCCW originally invited eight banks to underwrite the new loan. It was quite...

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