Trinidad and Tobago Finance Chief Trumpets $1 Billion Bond Sale

Trinidad and Tobago completed a $1 billion bond sale in the US market, with the Caribbean nation’s finance chief signaling he’ll use revenue from energy projects and tax reform to repay the debt.

Finance Minister Davendranath Tancoo said the unsecured, 10-year bond with a yield of 6.7% was oversubscribed by about two and a half times. JPMorgan Chase & Co. and Bank of America Corp. served as book runners.