Trinidad Petroleum Update Investors on Petrotrin transition

• On March 1, 2019, Trinidad Petroleum Holdings Limited (TPHL), the successor company to Petrotrin, provided an investor presentation purposed with updating investors on recent developments and the state of the company since the restructuring announced on August 28, 2018.

 

• TPHL new issuer and obligor of Petrotrin’s   2019 and 2022 notes with upstream guarantees provided by each of the four subsidiaries: Heritage, Paria Guaracara and Petro. Co. of Trinidad and Tobago Limited.

 

• The implementation of the transformation plan has been on schedule. Following the transition, TPHL has amassed ample asset coverage with existing producing assets that consistently replenish reserves that have the capacity to service its debts

 

• No additional information has been provided on the financing of the 2019 notes that will become due in 2019. 

 

(Source: TPHL Investor Presentation)