By Marisa Wong
Madison, Wis., May 16 - Wan Hai Lines Ltd. said its board of directors authorized the issue of NT$2.9 billion of 1¾% six-year bonds.
The bonds have been priced at par.
This is the company's second issuance of straight bonds in 2011.
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.
| Issuer: | Wan Hai Lines Ltd.
|
| Issue: | Straight bonds
|
| Amount: | NT$2.9 billion
|
| Maturity: | Six years
|
| Coupon: | 1¾%
|
| Price: | Par
|
| Yield: | 1¾%
|
| Pricing date: | May 16
|
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