Taiwan-based Wan Hai's board OKs up to NT$5 billion corporate bonds

By Marisa Wong

Madison, Wis., April 30 - Wan Hai Lines Ltd. said its board of directors approved the issuance of up to NT$5 billion of corporate bonds.

The bonds will be issued at par through a non-public offering. The coupon and maturity will be set based on market conditions, according to a Taiwan Stock Exchange announcement.

Proceeds will be used to increase medium- and long-term operating funds and to strengthen the company's financial structure.

The shipping company is based in Taipei, Taiwan.

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