PCCW terminates bonds issue

PCCW (0008) announced last Friday that it decided to cancel the plan of bonds issue, for the recent bonds market suffered serious volatility as a result of obscure factors in Argentina and other emerging markets. Besides, the interest rate of related bonds is unattractive compared with the debt interest expense. The company stressed that the company was in sound financial status and need not refinance for the debt for the time being.

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