Minister Imbert off to sell US$1 billion international bond

Thursday, July 21, 2016 - 20:00

Finance Minister Colm Imbert will leave the country on Sunday to meet with investors in the US and England, in an attempt to sell a US$1 billion bond.

The Ministry of Finance says the Minister and his team will meet with over 20 major banks.

The following is a statement by the Ministry of Finance:

"The Honourable Colm Imbert, Minister of Finance, will head a Trinidad and Tobago Delegation to the USA on a Roadshow, during the week commencing July 25, 2016, pursuant to the issuance of an International Bond, in the amount of up to US$1.0 billion (TT$6.7 billion). This money is required to facilitate the Government’s Development Programme, among other things.

The Delegation includes senior officials, advisers and technocrats from the Ministry of Finance and the Central Bank of Trinidad and Tobago, among others.

The goal of the Roadshow is to promote the Republic of Trinidad and Tobago as a viable investment destination, as well as to encourage the widest possible investor interest and participation in the Bond. It is expected that the Roadshow would have a favourable effect on the pricing of the Bond.

During the week, the Minister of Finance and his delegation will meet with, and make presentations to as many as twenty (20) major banks, investors and financial institutions

In keeping with US law, the Trinidad and Tobago Bond Issue was announced on Bloomberg on Thursday 21st July, 2016.

Further, in order to cover the greatest cross-section of investors, and to achieve the most favourable results, the Roadshow has been divided into two legs with different teams covering each leg. One team will meet with investors in Los Angeles and New York, while another team will meet with investors in London and Boston.

It is expected that the Bond will be priced on Thursday July 28, 2016."