Published on 2/22/2012 in the Prospect News Emerging Markets Daily.
New Issue: Taiwan's Yang Ming prices NT$5.54 billion bonds to yield 2.08%, 2.18%
By Marisa Wong
Madison, Wis., Feb. 22 - Yang Ming Marine Transportation Corp. priced NT$5.54 billion of bonds at par, according to a company announcement.
The bonds will be placed in two tranches.
Tranche A will have a maturity of four years and a coupon of 2.08%. Tranche B will have a maturity of five years and a coupon of 2.18%.
Yang Ming's board of directors approved the placement on Wednesday.
Proceeds will be used to increase working capital and improve the company's financial structure.
Yang Ming is an ocean shipping company based in Keelung, Taiwan.
Issuer: | Yang Ming Marine Transportation Corp.
|
Issue: | Bonds
|
Amount: | NT$5,544,000,000
|
Announcement date: | Feb. 22
|
|
Tranche A
|
Amount: | NT$1,759,000,000
|
Maturity: | Four years
|
Coupon: | 2.08%
|
Price: | Par
|
Yield: | 2.08%
|
|
Tranche B
|
Amount: | NT$3,785,000,000
|
Maturity: | Five years
|
Coupon: | 2.18%
|
Price: | Par
|
Yield: | 2.18%
|
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