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Financial News

Sep 2023 Financial News

T&T's US$560m bond oversubscribed

Sep 14, 2023

'On Monday September 11th, 2023, the Government of the Republic of Trinidad and Tobago, through the Ministry of Finance, successfully issued US$560 million Senior Unsecured long 7-year Notes at a coupon of 5.950 per cent on the International Capital Market. The offer was oversubscribed by three times the amount required,' the release stated.

Scotiabank and JP Morgan acted as joint lead managers and bookrunners for the transaction.

'This was in tandem with the Republic of Trinidad and Tobago's announcement on September 5th, 2023, of the commencement of a Cash Tender Offer to purchase any and all of the outstanding US$550 million aggregate principal amount of its 4.375 per cent Notes due 2024,' it stated.

The Finance Ministry stated the marketing strategy for the transaction consisted of group investor calls beginning on September 5 in which Finance Minister Colm Imbert met with 36 potential international investors.

The Trinidad and Tobago Express
Thursday 14th September, 2023

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T&T's US$560m bond oversubscribed