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.
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Issue: | Straight bonds
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Amount: | NT$2.9 billion
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Maturity: | Six years
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Coupon: | 1¾%
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Price: | Par
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Yield: | 1¾%
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Pricing date: | May 16
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