Milbank LLP advised Deutsche Bank Securities Inc. as global coordinator and sole bookrunner and CIBC World Markets Corp. and First Citizens Bank Limited as co-managers in connection with Trinidad Generation Unlimited’s (TGU) offering of $525 million aggregate principal amount of 7.750% senior notes due 2033. TGU has used a portion of the net proceeds to repurchase $450 million of the company’s outstanding senior unsecured notes due 2027 tendered by holders in a concurrent tender offer.
TGU owns and operates a 720 MW net capacity combined-cycle natural gas-fired power plant, which is currently the largest power generation plant in Trinidad and Tobago in terms of supplied electricity.
The Milbank team was led by Corporate Finance and Securities partner Adam Brenneman, special counsel Gonzalo Guitart and associate Christopher Puglisi.
