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Trinidad Petroleum arranges new loan

Trinidad Petroleum arranges new loan

June 4, 2019 | Mick Bowen
Oil company has $720m in commitments for a syndicated facility led by Credit Suisse

Loans Debt Capital Markets Bonds Corporate & Sovereign Strategy Fixed Income Energy Trinidad & Tobago Caribbean Europe

Trinidad Petroleum said it has received up to $720m in commitments for a new syndicated loan led by Credit Suisse. The loan could come in different tranches that mature in as soon as three years, the company said in a statement. It also said it will use the money to pay off $850m in 2019 bonds, due in August. The state-owned oil company, formerly known as Petrotin, had hired Credit Suisse, Bladex, First Citizens Bank and Morgan Stanley earlier this year to arrange a new loan for $850m. Trinidad

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