HKT plans to repay USD 750 million bonds with unutilized bank credit facilities

HKT-SS (06823.HK) Chief Financial Officer Pan Zhihao stated that they are considering using undrawn bank credit to repay the $750 million bond maturing in July this year and will closely monitor market trends to find the right timing to enter the fixed-income market. The group is also continuously optimizing its debt structure to reduce interest costs. Recently, the company received a proposal from China Merchants Capital to increase its stake in the subsidiary by 9%. Pan Zhihao indicated that the proceeds from the sale will be used to repay debts.

Pan Zhihao pointed out that the group's operating expenses and capital expenditures both decreased last year; as of the end of last year, the net debt to EBITDA ratio remained below 3 times. The group currently has $2.8 billion in working capital, of which approximately $2.5 billion is undrawn bank credit