IPBC follows suit

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.