Yang Ming Marine plans to issue up to NT$8 billion 3.75% convertibles

By Marisa Wong

Madison, Wis., April 30 - Yang Ming Marine Transport Corp. said its board of directors has approved the issuance of up to NT$8 billion of convertible bonds.

The company said it expects to issue the bonds at par with a maturity of no more than seven years and a coupon of 3.75%.

Proceeds will be used to increase working capital and to improve the company's financial structure.

Yang Ming is an ocean shipping company based in Keelung, Taiwan.

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