Shih Wei Navigation to sell NT$500 million 0% three-year convertibles

By Mary-Katherine Stinson

Lexington, Ky., March 30 – Shih Wei Navigation Co., Ltd.’s board of directors OK’d the planned issuance of NT$500 million 0% three-year secured convertible bonds, according to a notice.

The actual issue price will be determined by competitive auction.

SinoPac Securities Co., Ltd. is the agent.

Proceeds will be used to repay loans of the company’s 100% owned subsidiaries.

This is the sixth domestic secured convertible bond for the company.

Taipei City, Taiwan-based Shih Wei is a shipping owner-operator engaged in general and dry bulk cargo shipping.

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