By Marisa Wong
Madison, Wis., Nov. 17 - Yang Ming Marine Transportation Corp. announced that it issued NT$6.5 billion of secured straight bonds at par.
The bonds have a maturity of five years and a coupon of 1.3%.
E.Sun Commercial Bank is the trustee for the bonds.
Bank of Taiwan, Taipeifubon Commercial Bank, Taiwan Cooperative Bank, First Commercial Bank and Chang Hwa Commercial Bank will each guarantee NT$1 billion of the bonds.
Mega International Commercial Bank, Hua Nan Bank and Shin Kong Bank will each guarantee NT$500 million of the bonds.
This is the company's 15th issue of secured bonds.
Proceeds will be used to repay the company's domestic straight bonds and bank loan.
Yang Ming is an ocean shipping company based in Keelung, Taiwan.
| Issuer: | Yang Ming Marine Transportation Corp.
|
| Issue: | Secured straight bonds
|
| Guarantors: | Bank of Taiwan, Taipeifubon Commercial Bank, Taiwan Cooperative Bank, First Commercial Bank, Chang Hwa Commercial Bank (each for NT$1 billion); Mega International Commercial Bank, Hua Nan Bank, Shin Kong Bank (each for NT$500 million)
|
| Amount: | NT$6.5 billion
|
| Maturity: | Five years
|
| Coupon: | 1.3%
|
| Price: | Par
|
| Yield: | 1.3%
|
| Announcement date: | Nov. 17
|
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