NYK to issue more than $600 million in bonds

NYK to issue more than $600 million in bonds
   NYK Line on Wednesday said it will issue two sets of bonds worth $630 million in order to raise cash.
   The first set of bonds, worth $315 million, are for five years while the second set, also $315 million, are 10-year bonds.
   The Japanese line in late July announced first quarter fiscal year losses of $265.8 million and downgraded year-end forecast to such an extent that it would lose money for the whole of the year.
   NYK's liner division lost $268 million in the last fiscal year, ending March 31, but the carrier as a whole made $1.45 billion in operating profit and $562 million in net profit.