Finance Minister Hails Successful US$500 Million International Bond Issue

Minister of Finance, Colm Imbert, is hailing the achievement of a very successful US$500 million Republic of Trinidad and Tobago International Bond Issue. The US$500M 10-year Bond Offer was launched by Credit Suisse internationally on Monday morning, with an initial interest rate in the vicinity of 4.75%. The Finance Minister said three hours and 45 minutes later, the Bond Offer had been oversubscribed by 219%. He further stated that a total of US$1.66 billion was received in offers from a wide range of high quality international investment firms, investment funds, and investment banks. The Offer Book was eventually settled at US$500 Million at an interest rate of 4.5%. The Minister of Finance described the achievement of issuing a 10-year US$500 Million Bond with high quality investors in less than four hours on the international market and at an interest rate of 4.5% as tremendous, specifically in the midst of the COVID-19 pandemic with depressed oil and gas prices and all of the economic difficulties.