New Issue: Taiwan's Yang Ming Marine sells NT$5 billion five-year bond with 1.42% coupon

By Lisa Kerner

Charlotte, N.C., March 16 - Yang Ming Marine Transport Corp. said its 14th issue of a NT$5 billion secured straight bond has a five-year issue period, a 1.42% interest rate and a face value of NT$1 million.

The Taiwan-based shipping company approved the issue in January at which time the issue period, interest rate and face value were pending.

Proceeds will be used to refinance the domestic unsecured straight bond coming due in 2011, according to a company news release.

Underwriters for the issue include Bank of Taiwan, Cathay United Bank, Taiwan Cooperative Bank, Chinatrust Commercial Bank, Firstbank, Yuantabank, Hua Nan Commercial Bank and Shanghai Commercial & Savings Bank.

Issuer:	Yang Ming Marine Transport Corp.
Issue:	Secured straight bond
Underwriters:	Bank of Taiwan, Cathay United Bank, Taiwan Cooperative Bank, Chinatrust Commercial Bank, Firstbank, Yuantabank, Hua Nan Commercial Bank, Shanghai Commercial & Savings Bank
Amount:	NT$5 billion
Maturity:	Five years
Coupon:	1.42%

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