Wan Hai lines up debut dollar bond

Wan Hai launches inaugural offshore corporate benchmark from Taiwan.

Wan Hai Lines launched Taiwan's first dollar-denominated corporate issue late on Tuesday June 21 raising $325 million from a ten-year bond via Citigroup and UBS. The deal was launched through the group's wholly owned Singapore unit, Wan Hai Lines Singapore Ltd, in order to avoid Taiwan's 20% withholding tax on coupon payments.

The Baa2BBB rated deal priced inside of initial guidance first presented to investors last week at roadshows in Hong Kong and Singapore...

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