Taiwan's Wan Hai Lines plans to issue $300-$400 million 10-year bonds next week

By Reshmi Basu

New York, June 15 - Wan Hai Lines (Singapore) Pte. Ltd. plans to issue $300 million to $400 million of 10-year bonds (Baa2/BBB) next week, according to a market source.

Citigroup and UBS Investment Bank are running the Regulation S only bond offering.

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

Wan Hai Lines Ltd. will guarantee the bonds.

Wan Hai, which has headquarters in Taipei, is a container shipping company.

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