CaribWorldNews, NEW YORK, NY, Weds. Aug. 12, 2009: Trinidad & Tobago Petroleum Co. Ltd. has raised millions from its first dollar-denominated debt sale in two years.
Petrotrin sold $850 million of 10-year dollar bonds, according to Bloomberg News.
The money may be used to fund capital requirements and refinance debt, according to Bloomberg, quoting sources familiar with the offering.
Petrotrin previously issued dollar bonds in May 2007, selling $750 million of 15-year securities to yield 6.05 percent, Bloomberg data show.