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Prospect News home > News index > List of issuers P > Headlines for Petroleum Co. of Trinidad & Tobago Ltd. (Petrotrin) > News item |
Petrotrin to sell $750 million of 15-year amortizing notes
By Reshmi Basu
New York, April 23 - Petroleum Co. of Trinidad & Tobago Ltd. (Petrotrin) plans to sell a $750 million offering of 15-year amortizing notes (/BBB+/), according to a market source.
Proceeds from the sale will be used to finance a large portion of the $800 million estimated cost for the Gasoline Optimization Project, which is a refinery upgrade program.
Citigroup is the lead bookrunner for the deal. Calyon is the co-manager.
The issuer is a state-owned oil company in Trinidad and Tobago.
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