Taiwan's Yang Ming Marine board approves up to NT$5 billion bond

By Lisa Kerner

Charlotte, N.C., Jan. 8 - Yang Ming Marine Transport Corp.'s board of directors approved the 14th issue of a secured straight bond totaling no more than NT$5 billion.

The face value, issue price and coupon are pending, according to a Yang Ming news release.

Yang Ming, a Taiwan-based shipping company, said the issue period will be no more than five years.

Proceeds will be used to refinance the domestic unsecured straight bond coming due in 2011.

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