Trinidad and Tobago sees tenders for $227.87 million of 2024 notes

By Marisa Wong

Los Angeles, Sept. 13 – The Republic of Trinidad and Tobago announced that holders had tendered $227,782,000, or 41.41%, of its $550 million outstanding 4 3/8% notes due Jan. 16, 2024 (Cusip: P93960AF2, 896292AH2) under the cash tender offer that began on Sept. 5 and expired at 5 p.m. ET on Sept. 12.

The conditions to the offer have been satisfied, and the company expects to pay for all of the tendered notes on Sept. 14, according to a Wednesday press release.

The republic will purchase the notes at $996.50 per $1,000 principal amount. Holders will also receive accrued interest.

One of the conditions to the tender offer was completion of a sale of new debt securities, as previously reported.

J.P. Morgan Securities LLC (866 846-2874 or 212 834-7279) and Scotia Capital (USA) Inc. (833 498-1660; LM@scotiabank.com) are dealer managers for the tender offer.

The depositary and information agent is Global Bondholder Services Corp. (contact@gbsc-usa.com; 855 654-2014 or 212 430-3774 for banks and brokers).

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