Bloomberg Anywhere Remote Login Bloomberg Terminal Request a Demo

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

PCCW Said to Hire Banks for Benchmark-Size U.S. Dollar Bond

A pedestrian walks by two PCCW Ltd. phone booths in Hong Kong. Photographer: Jerome Favre/Bloomberg
A pedestrian walks by two PCCW Ltd. phone booths in Hong Kong. Photographer: Jerome Favre/Bloomberg

April 12 (Bloomberg) -- PCCW Ltd., the Hong Kong-based phone company chaired by billionaire Richard Li, is selling its first bonds in 20 months, according to a person familiar with the matter.

PCCW is marketing the notes to yield in the high 300 basis-point area more than similar-maturity Treasuries, the person said, asking not to be identified because the details are private. Morgan Stanley and Royal Bank of Scotland Group Plc were hired to manage the benchmark-sized sale, the person said.

CK Chan, a spokesman at PCCW in Hong Kong, declined to immediately comment on the sale when contacted by phone today.

PCCW last sold bonds in August 2010, according to data compiled by Bloomberg. Those $500 million of notes due February 2016 priced to yield 288 basis points more than similar-maturity Treasuries, the data show.

The 4.25 percent securities are trading at 285 basis points over Treasuries as of 12:24 p.m. in Hong Kong, DBS Group Holding Ltd. prices on Bloomberg show.

The Reg S, fixed-rate notes may be priced as soon as today, the person said. PCCW Capital No. 4 Ltd., a unit of PCCW, will issue the notes, the person said.

Benchmark typically means at least $500 million.

To contact the reporters on this story: Tanya Angerer in Singapore at tangerer@bloomberg.net; Mark Lee in Hong Kong at wlee37@bloomberg.net

To contact the editor responsible for this story: Shelley Smith at ssmith118@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.