Trinidad & Tobago has successfully raised US$1 billion through the issuance of a new ten-year international bond, set to mature in January 2036, according to information released to investors.
The bond carries a coupon rate of 6.5%, with interest payable semi-annually, and was sold at a discount to face value, meaning investors are expected to earn a slightly higher overall return.
The bond, denominated in US dollars, is unsecured and backed by the government's general ability to meet its debt obligations rather than specific assets.
Finance Minister Davendranath Tancoo is in New York this week participating in a bond show.
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