TSTT wraps up bond tap

TSTT wraps up bond tap

Corporate & Sovereign Strategy Bonds Debt Fixed Income Capital Markets Trinidad & Tobago Telecoms

Telecommunication Services of Trinidad and Tobago (TSTT) said it added TTD476 million ($70.1 million) to its 8.3% 2029 bonds on Monday to cover severance pay for 573 employees as part of its downsizing plans, according to a securities filing. TSTT priced the deal at par to yield 8.3% in a deal arranged by Oppenheimer and Republic Bank, the company said in a securities filing. It added that it will pay a premium of $0.05 on the dollar to the bondholders who agreed to the tap. Trinidad and Tobago'

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