PCCW-HKT completes benchmark bond

Books close five-and-a-half times covered as the Hong Kong telco comes roaring back to the international bond markets.
July 10, 2003

HSBC closed a $500 million 10-year deal for PCCW-HKT last night (Thursday) slightly inside price guidance of 240bp to 250bp over Treasuries. After a one-day bookbuild, pricing was settled at 99.533% on a coupon of 6% to yield 6.063% or 237bp over Treasuries.

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