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.


This week, we review the financial performance of FirstCaribbean International Bank Ltd (FCI) and Scotiabank Trinidad and Tobago Ltd (SBTT), for the first half of their respective financial years ended April 30. While both banks remained profitable, overall net profits were driven in opposite directions due to certain tax-related events.

The University of the West Indies and Lake Asphalt have signed a licence agreement that will see Lake Asphalt commercialising two “superior” asphalt-based products developed by the university.

WHEN someone has attained the status of a judge, minister or Member of Parliament and they retire with a pension of a couple thousand dollars, people laugh at them.

ECONOMIST Dr Terrence Farrell believes the role of State-owned National Gas Company (NGC) needs to be re-examined and that the price the NGC pays to upstreamers for natural gas should be disclosed.

Business process outsourcing company, Iqor, said Wednesday  it has not sold its Trinidad and…