Government yesterday completed the issuance of a US$800 million Sovereign Bond in the United States market.
The bonds were oversubscribed by approximately 400%, representing the largest level of oversubscription achieved by Trinidad and Tobago since the issuance of the country’s first benchmark-size bond in 2013, the Ministry of Finance said in a release.
“This bond has repriced Trinidad and Tobago’s yield curve and is a clear reflection of investor confidence in the country’s credit story which was presented by a Government team during a two-day roadshow this week,” it stated.
The roadshow was led by Minister of Finance Davnedranath Tancoo, the Minister of Energy Dr Roodal Moonilal and the Governor of the Central Bank Larry Howai.
The ministry stated: “The transaction attracted high-quality investors from around the world, including the United States, United Kingdom, Europe and the Caribbean with strong participation from local institutional investors. Over 150 high-quality investors competed for the opportunity to invest in the Bond further strengthening Trinidad and Tobago’s international investor base as well as market liquidity and confidence.”
