Petrotrin Bond Delayed for Third Time

• Trinidad Petroleum Holdings Ltd (TPHL) on Friday announced that the expiration date for the Petrotrin bond exchange program has been extended until June 14 at 5 p.m., New York City time (4 p.m., local time), which is the third time the expiration date has been pushed back.
• TPHL is the parent company of Petrotrin, which remains as a registered company but whose operations were made defunct by the Government.
• TPHL is looking to exchange a US$850 million bond that becomes due in August this year for bonds that mature in 2026.
• Up to last Friday, holders of the Petrotrin bonds had consented to exchange some US$152Mn of Petrotrin's bonds, which include some amortizing bonds that mature in 2022.

(Source: Trinidad Express Newspaper)