By Marisa Wong
Madison, Wis., Oct. 18 - Yang Ming Marine Transportation Corp. priced NT$5 billion of bonds at par, according to a Taiwan Stock Exchange announcement.
The bonds were issued in two tranches: NT$1.1 billion of five-year bonds and NT$3.9 billion of seven-year bonds.
The five-year bonds have a coupon of 2.2%, and the seven-year bonds have a coupon of 2.45%.
Proceeds will be used to repay domestic bonds and a bank loan.
Yang Ming's board of directors approved the issuance on June 25, as previously reported.
The ocean shipping company is based in Keelung, Taiwan.
| Issuer: | Yang Ming Marine Transportation Corp.
|
| Issue: | Bonds
|
| Amount: | NT$5 billion
|
| Announcement date: | Oct. 18
|
|
|
| Five-year bonds
|
| Amount: | NT$1.1 billion
|
| Maturity: | Five years
|
| Coupon: | 2.2%
|
| Price: | Par
|
| Yield: | 2.2%
|
|
|
| Seven-year bonds
|
| Amount: | NT$3.9 billion
|
| Maturity: | Seven years
|
| Coupon: | 2.45%
|
| Price: | Par
|
| Yield: | 2.45%
|
© 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.
