The Min­istry of Fi­nance an­nounced yes­ter­day that Gov­ern­ment was suc­cess­ful in rais­ing an US$800 mil­lion sov­er­eign bond in the US mar­ket.

In a news re­lease last night, the min­istry said the bonds were over­sub­scribed by ap­prox­i­mate­ly 400 per cent, rep­re­sent­ing the largest lev­el of over­sub­scrip­tion achieved by T&T since the is­suance of the coun­try’s first bench­mark-size bond in 2013.

The min­istry said the notes were suc­cess­ful­ly priced with a coupon of 6.20 per cent, achiev­ing a neg­a­tive new-is­sue con­ces­sion, “an ex­cep­tion­al out­come that re­flects the strength of in­vestor de­mand and the mar­ket’s con­fi­dence in T&T’s sov­er­eign cred­it. A bond is­sue with no new-is­sue con­ces­sion means that in­vestors re­quired no ad­di­tion­al cost in­cen­tive or con­ces­sion to in­vest in the trans­ac­tion.”