Reach, the JV of PCCW and Australia Telecom, rumored to issue US$1000mln bonds

According to bank sources, Reach, the JV of PCCW (0008) and Australia Telecom, plans to issue US$500mln to US$1000mln bonds but Reach declined to comment on the news. It is reported the JP Morgan will be financial consultancy of credit rating of Reach and is expected to be authorized to issue the bonds. The bonds are expected for paying off US$1500mln debts.

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