Facebook
Ramish and Leela
Friday, 28 October 2016 15:00

EFCL Calls Emergency Meeting To Discuss Defaulting On $400M Bond

Written by
Rate this item
(0 votes)

The Education Facilities Company Limited (EFCL) is warning that it will default on a $400 million bond, due to mature on Monday.

In a newspaper advertisement, the State-owned company called an emergency meeting of bondholders for November 21st to address its inability to make the payment.

The bondholders will also be asked to defer the repayment of their Principal and accrued interest to April 30th, 2017 - six months after the maturity date of October 30th, 2016.

The seven-year fixed-rate bond with an interest rate of 5.35%, which was issued on October 30th, 2009, is guaranteed by the government and has the Central Bank as the sole agent for the raising and management of the bond.

The Unit Trust Corporation serves as the Trustee of the bond.

Read 594 times
  • C SPORTS
  • C SPECIALS
  • Press Releases
Several members of this country's national football team, cycling team, and hockey teams left these shores for
Queen’s Park moved to the top of the Trinidad and Tobago Super League with a 4-2 victory over San Fernando Giants
France may have won the FIFA World Cup in Russia on Sunday, but hours after Les Bleus second victory in the
We may be over seven thousand miles away from the host of this year's World Cup - Russia but that did not stop fans of
The Defence Force and Central FC will battle for a place in the First Citizens Cup finals. The Army defeated Morvant
National Senior Men's Football Team Coach, Dennis Lawrence, visited his alma mater, Barataria North Secondary, on
  • 1
  • 2
bottom
Top