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MS & PCCW in done equity deal

MS & PCCW in done equity deal

(Hong Kong) - Morgan Stanley has launched and closed an equity linked deal for Hong Kong telco group PCCW within a day. The firm completed a US$450 million convertible for PCCW following the completion of the telco group's private placement convertible with Intel a day earlier.

Terms of the issue consist of US$450 million at a five-year final maturity and three-year hard no call thereafter subject to a 130 percent hurdle.
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