Taiwan's Yang Ming Marine gets OK for up to NT$7 billion of bonds

By Marisa Wong

Madison, Wis., Nov. 8 - Yang Ming Marine Transportation Corp.'s board of directors has approved up to NT$7 billion of secured straight bonds.

The bonds will have a tenor of five years or longer.

E.Sun Commercial Bank will be the trustee for the bonds. Bank of Taiwan, Mega International Commercial Bank, Taipeifubon Commercial Bank, Taiwan Cooperative Bank, First Commercial Bank, Chang Hwa Commercial Bank, Hua Nan Bank and Shin Kong Bank will be the guarantors.

This will be the company's 15th issue of secured bonds.

Proceeds will be used to repay the company's straight bonds and bank loan.

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

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.