Taiwan's Wan Hai Lines mandates Citigroup, Morgan Stanley for $400 million 10-year notes

By Paul A. Harris

St. Louis, April 1 - Taiwan shipper Wan Hai Lines Ltd. has mandated Citigroup and Morgan Stanley to run the books for its $400 million offering of 10-year notes (BBB), according to a market source.

The offering is expected to launch during the second quarter of 2005.

Proceeds will be used to help fund the purchase of new vessels.

The company is based in Taipei, Taiwan.

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