Telstra $1.5 billion bond on cards if PCCW deal proceeds

Telstra has secured some $3 billion of new financing since the start of June and $1.5 billion more is planned if, as expected, it proceeds with a $3 billion investment in Pacific Century CyberWorks.

Telstra could be issuing a $1.5 billion bond as early as October if, as planned, it forms a strategic alliance with Pacific Century CyberWorks PCCW. Under the terms set out in a memorandum of understanding MoU signed in April, the two companies intend to form internet protocol backbone and mobile phone joint ventures. Telstra would invest $3 billion û $1.5 billion in the joint ventures and $1.5 billion in a convertible note to be issued by...

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