March 16, 2022 |
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'
Trini telco adds $70 mln to its 2029 notes to cover severance pay in a downsizing plan