Taiwanese container line Yang Ming Transport is pressing ahead with a convertible bond deal worth NT$6.2bn ($206.9m), down from an original target of NT$8.3bn, Seatrade Asia online reports.
On Monday, guarantees for the seven-year bond were signed by the lead arrangers and bookrunners comprising of Bank of Taiwan, Taiwan Co-operative Commercial Bank, and Land Bank of Taiwan.
Yang Ming said the proceeds would be used to improve its financial structure and for working capital purposes.
Last week, the company unveiled its intention to purchase five containerships of 14,000-16,000 teu by the end of this year.
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