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