go here
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 475 times
  • Press Releases
A goal on either side of half time from Surinamese international Dimitrie Apai helped Directv W/Connections lift a
The T&T bowlers continued to toil on the second day of their Professional Cricket League clash with Guyana out at
The T&T Under-20 ladies made a winning start to their build up programme towards next January’s crucial World
The pupil pulled one over on the teacher as Nigel Grosvenor’s Queen's Royal College couldn’t deliver the
Tonya Nero will once again throw down the gauntlet to the region's top road runners as she seeks precious metal for
The TT bowlers found the going tough against some patient Guyanese batting on the opening day of their day/night clash
  • 1
  • 2