Maroc - NEWSDAY.CO.TT - A la Une - 20/Sep 07:18

Guardian Holdings refinances billion-dollar bond

GUARDIAN Holdings Ltd (GHL) has announced that it has successfully executed a $1.02 billion bond refinancing transaction on September 9. A release from Guardian Holdings said the refinancing exercise is the largest private corporate bond issuance in TT over the last ten years. Guardian Holdings said the successful refinancing highlights its reputation as a trusted and resilient leader in the financial service sector. "The strong investor demand for this issuance, evidenced by broad participation, further underscores market confidence in Guardian Holdings’s financial strength and long-term outlook," the release said. Guardian Holdings said the transaction secures long-term funding and stabilises capital structure. [caption id="attachment_1179243" align="alignnone" width="683"] Guardian Holdings CEO Ian Chinapoo -[/caption] It added that the transaction was supported by Hamel-Smith and Co as legal counsel and First Citizens Trustee Services Ltd as the bond trustee. "The TT Securities and Exchange Commission (TTSEC)-approved transaction involved the early redemption and repayment of the principal of the bond and accrued interest on the existing bond," the release said. It also issued an additional $30 million in new bonds. "These were consolidated into a new $1.05 billion bond structured across three tranches with three-year, six-year and ten-year maturities." CEO Ian Chinapoo said the deal reinforces Guardian Holdings' financial strength and resilience while underscoring the confidence that investors continue to place in the group. "By proactively refinancing ahead of maturity we have assured our strong capital structure, secured long-term funding and positions Guardian Holdings to deliver sustainable growth," he said.   The post Guardian Holdings refinances billion-dollar bond appeared first on Trinidad and Tobago Newsday.