Trinidad Generation Unlimited Closes $600 Million Debut Bond
New York – Paul Hastings, a leading global law firm, announced today that the firm represented Trinidad Generation Unlimited (“TGU”) in its first-ever international bond offering. TGU owns and operates a 720 MW net capacity combined-cycle gas-fired power plant, which is currently the largest power generation plant in Trinidad and Tobago in terms of supplied energy. The offering involved the issuance of US$600M 5.250% Senior Unsecured Notes due November 4, 2027 pursuant to Rule 144A and Regulation S. The underwriters involved were Credit Suisse, Scotiabank, and RBC. The proceeds of the bond offering were used to repay in full a US$600M secured Syndicated Bridge Loan, on which Credit Suisse was the administrative agent and arranger.
The Paul Hastings team was led by Corporate Finance partner
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