LONDON and NEW YORK, October 18, 2019: Morgan Lewis represented Telecommunications Services of Trinidad and Tobago (TSTT) on a $400 million international bond offering that closed today.
The dual-tranche offering included $300 million 8.875% senior secured notes due 2029 and TT$680 million (approximately $100 million) 8.30% senior secured notes due 2029, for an aggregate principal amount of $400 million. The offering was made under Rule 144A and Regulation S, and the bonds are listed on the Luxembourg Stock Exchange. The offering is TSTT’s inaugural transaction in the international capital markets.
TSTT provides a wide range of mobile communications, fixed voice, broadband internet, entertainment, cloud services, security surveillance, and other related products and services. The proceeds of the offering will be used primarily for the refinancing of existing indebtedness.
The Morgan Lewis team was led by London partner Carter Brod, supported by a London and New York team that included partners Howard Kenny and Richard Zarin, and associates Abby Clifford and Julianne Vargo.