Taiwan's Wan Hai gets OK to sell up to NT$12 billion of bonds in 2011

By Marisa Wong

Madison, Wis., March 31 - Wan Hai Lines Ltd. said its board of directors approved the issue of up to NT$12 billion of straight bonds in 2011.

The bonds will have a maturity of no more than seven years.

The coupon and other pricing details will be determined at a later time.

Proceeds will be used to raise medium- and long-term operating funds, to repay loans and to purchase containers and vessels.

Wan Hai is a Taipei, Taiwan, container shipping company.

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