By Marisa Wong
Madison, Wis., March 23 - Yang Ming Marine Transportation Corp. priced NT$4.35 billion of bonds at par, according to a company announcement.
The bonds will be placed in two tranches. The issue amount of tranche A is NT$1.55 billion, and the issue amount of tranche B is NT$2.8 billion.
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 Friday.
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$4.35 billion
|
| Announcement date: | March 23
|
|
|
| Tranche A
|
| Amount: | NT$1.55 billion
|
| Maturity: | Four years
|
| Coupon: | 2.08%
|
| Price: | Par
|
| Yield: | 2.08%
|
|
|
| Tranche B
|
| Amount: | NT$2.8 billion
|
| Maturity: | Five years
|
| Coupon: | 2.18%
|
| Price: | Par
|
| Yield: | 2.18%
|
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