Heritage Petroleum sells bonds to pay down debt

Heritage Petroleum sells bonds to pay down debt

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

Trinidad and Tobago state-owned oil and gas company Heritage Petroleum went to the international market on Thursday with the sale of $500 million in seven-year bonds to pay down debt, a source involved in the deal told LatinFinance. The new 2029 bonds priced at 99.929 to yield 9% after the initial price talk opened around the same rate, the source said. Credit Suisse was the global coordinator and Scotiabank a joint bookrunner on the Rule 144A/Reg S bond deal, while First Citizens Bank and JMMB

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