PCCW helps Sunday repay debt

12 Jul 2005

PCCW has announced it will help its newly acquired wireless arm Sunday to pay off HKD799 million of debt which has become due, including HKD374 million owed to equipment vendor and minority shareholder Huawei. The debt fell due after PCCW appointed new directors to Sunday’s board, a move which constituted a technical default of the loans, accelerating their maturity dates.