TSTT sets up bond tap

TSTT sets up bond tap

Corporate & Sovereign Strategy Bonds Debt Fixed Income IDB Invest Capital Markets Latin America Caribbean Trinidad & Tobago Telecoms

Telecommunication Services of Trinidad and Tobago (TSTT) could add up to TTD680 million ($100 million) to its 8.3% 2029 bonds before the end of the week, a source involved in the deal told LatinFinance. TSTT, the largest telco in the country, started calling investors on February 4 to pitch the tap, talking to both existing bondholders and possible new investors. Oppenheimer and Republic Bank are joint lead managers. The company plans to use the proceeds to cover severance pay for 573 employees

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