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Trinidad state developer Nipdec to issue US$156mn road repair bond

Bnamericas

Trinidad & Tobago state developer Nipdec plans to issue TT$1bn (US$156mn) of debt in 16-year notes to finance the national road project PURE.

Nipdec, a wholly owned subsidiary of the National Insurance Board of Trinidad and Tobago, plans to issue US$156mn worth of 4.00% fixed-rate bonds maturing October 25, 2029, according to Nipdec's bond offer memorandum.

The notes are slated for auction on October 23 and to be issued October 25. Proceeds will finance Trinidad and Tobago's national road repair and upgrade program PURE.

The offer is guaranteed by the government with Trinidad and Tobago's central bank to act as the issuing agent.

Click here to see the full memorandum.

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