Government yesterday completed the issuance of a US$800 million Sovereign Bond in the United States market.

The bonds were oversubscribed by approximately 400%, representing the largest level of oversubscription achieved by Trinidad and Tobago since the issuance of the country’s first benchmark-size bond in 2013, the Ministry of Finance said in a release.

The Notes were successfully priced with a coupon of 6.20%, achieving a negative new issue concession, an “exceptional outcome that reflects the strength of investor demand and the market’s confidence in Trinidad and Tobago’s sovereign credit”, it stated, adding that a bond issue with no new issue concession means that investors required no additional cost incentive or concession to invest in the transaction.