Trinidad floats 6.5 per cent bond
Published:Wednesday | February 3, 2010 | 12:00 AM
Prime Minister of Barbados David Thompson. - File
Trinidad has floated a new 15-year bond to fund government's day-to-day operations.
The TT$600-million offer opened January 28 and closes February 5 and settlement is on February 9.
The bond has a coupon of 6.5 per cent. Interest is payable half yearly each February and August until maturity on February 9, 2025.
The placement is being managed by the Central Bank of Trinidad and Tobago, the sole and exclusive agent for the issue, and the trustees, Trinidad and Tobago Unit Trust Corporation.
Applications for the bond, which must be in multiples of TT$1,000, will be accepted through the central bank's automated auction system. The maximum non-competitive allotment is capped at TT$100,000.