Petrotrin plans dollar-denominated benchmark-size 10-year bullet notes

By Aaron Hochman-Zimmerman

New York, July 31 - Petroleum Co. of Trinidad and Tobago will offer a dollar-denominated benchmark-sized offering of 10-year senior unsecured bullet notes (Baa3/BBB), according to a market source.

A roadshow will be held on Aug. 5 in London, on Aug. 6 in New York, on Aug. 7 in Boston and on Aug. 10 in Los Angeles.

Credit Suisse and JPMorgan will act as bookrunners for the Rule 144A and Regulation S deal.

There is a change of control put at 101 if government ownership falls below 51%.

Proceeds will be used to fund capital requirements.

Petrotrin is a Pointe-a-Pierre, Trinidad-based government-run oil firm.

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