TGU shrugs off volatility to price maiden bond

TGU shrugs off volatility to price maiden bond

Caribbean Trinidad & Tobago Bonds

Despite some market volatility, Trinidad Generation Unlimited (TGU) opened the region's corporate bond space this week, raising $600m in 2027 notes at the tight end of initial price thoughts. Bookrunners Credit Suisse and Scotiabank launched IPTs in the 400bp area over US Treasuries on Wednesday tightening at guidance to 375bp area yesterday. It is a relatively small issuer but "it is 100% owned by the government of Trinidad and Tobago and eligible for the JPMorgan sovereign bond i

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