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NYK taps bond market

NYK taps bond market

Tokyo: NYK Line will issue two sets of unsecured $315 million bonds in a public offering on August 11. The first bond issue comes with a five-year maturity and an annual coupon of 0.968 percent. The second one has a 10-year maturity and bears an annual coupon of 1.782 percent. Both offerings come with AA ratings. NYK suffered $262.7m losses in the first quarter as compared with a $610m profit in the same period last year. The line now anticipates full year losses of $52.5m, down from an earlier forecast of a $190m profit.  [06/08/09]

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