Colm Imbert

‘better interest rate’: Colm Imbert

THE terms and condi­tions of the US$720 million syndicate loan being secured by Trini­dad Petroleum Holdings will be made public upon finalisation of legal documents, which is anticipated within the next week to ten days.

So said acting Prime Minister Colm Imbert as he addressed an urgent question from Uni­ted National Congress (UNC) Senator Wade Mark in the Senate, at Tower D, International Waterfront Centre, Port of Spain, on Tuesday.

Imbert said the finan­cing remains confidential subject to disclosure rules associated with the company’s exchange offer under US Security and Exchange Commission regulations.

Imbert said however he could provide some information.

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He said the tenure of the loan facility would range from three to seven years, and the amount in each tenure bucket would be finalised within the next seven to ten days.

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