In a move highlighting the value that PCCW puts on its bank relationships, the company has agreed to underwriters' requests to increase the margin spread it will be paying on its $4.7 billion refinancing loan.
HKTC - the Hong Kong fixed line and mobile business subsidiary of PCCW - is raising the money in a three tranche loan with maturities of three, five and seven years. The margin increases are laid out below
Margin over Libor increase
Increased from 50bp to 85bp
Increased from 65bp to 115bp
Increased from 80bp to 145...