Gov't: US$1 billion bond over-subscribed 3.5 times on international market

Wednesday, July 27, 2016 - 20:00

The Government has received an overwhelming response to a bond of US$1 billion on the international market as Finance Minister Colm Imbert leads a roadshow in the United States.

Minister in the Office of the Prime Minister Stuart Young told today's post-Cabinet media conference that he had received a message on his phone from Minister Imbert, just prior to the start of the news conference.

"The Minister of Finance sent me a message a short while ago - 'very successful, over-subscribed about three and half times and final interest rate 4.5 percent'," he told the media

SEE ALSO: Finance Minister hits the road to sell US$1 billion in bonds on international market

He added that this was a good indication of how the international market views Trinidad and Tobago.

"That is a great endorsement for Trinidad and Tobago, on how the international market is viewing T&T," he said.

Prior to his departure, the Finance Minister had also indicated that the Government was able to raise TT$3 billion on the local market.

Republic Bank Limited also announced today that it has executed a $2 billion bond to assist in the funding of the Budget.