Trinidad Generation Unlimited Concludes Cash Tender Offer for Senior Unsecured Notes Due 2027

On June 11, 2025, Trinidad Generation Unlimited, a company incorporated in Trinidad and Tobago, announced the completion of its cash tender offer for any outstanding 5.250% Senior Unsecured Notes maturing in 2027. The official expiration of this offer was set at 5:00 PM, New York City time, on June 10, 2025.

The tender offer was detailed in a previous announcement dated June 2, 2025, providing specific terms and conditions, which included a financing condition to be met for the offer to proceed successfully. According to reports from the Information and Tender Agent, approximately 76.62% of the original principal amount of the notes, totaling U.S.$413,754,000, was validly tendered by the expiration date, inclusive of those submitted through guaranteed delivery procedures.

Holders of the validly tendered notes will receive a tender offer consideration priced at U.S.$1,009.50 for every U.S.$1,000.00 of principal amount, calculated by applying an approximately 83.3333% amortization factor. This price includes accrued and unpaid interest up to, but not including, the settlement date—which is expected around June 16, 2025.

Deutsche Bank Securities Inc. served as the dealer manager for the cash tender offer, while Morrow Sodali International LLC acted as the information and tender agent. Collectively, these firms ensured processes ran smoothly and provided assistance to note holders during the tender period. Those interested in obtaining additional copies of the offer documents were encouraged to reach out to the information and tender agent directly.

This cash tender offer represented a strategic move by Trinidad Generation Unlimited to manage its debt effectively and provide liquidity options to its bondholders. By successfully retiring a substantial portion of these senior notes, the company aims to enhance its financial stability and navigate market fluctuations more efficiently.

It’s crucial to note that, according to the company’s disclosures, none of the tender documents were reviewed or approved by securities regulatory authorities, emphasizing the legality and compliance aspects tied to such financial transactions. Thus, potential investors were advised to understand fully the terms outlined in the offering documents before proceeding.

Trinidad Generation Unlimited has positioned itself for robust financial health by undertaking this tender offer, indicating its commitment to proactive debt management. Stakeholders and potential investors alike will be watching closely how these transactions impact the company’s longer-term strategic objectives.

The company has also reassured that any forecasted statements regarding future financial performance are based on current expectations but are subject to risks and uncertainties common in the financial landscape.

In conclusion, Trinidad Generation Unlimited’s successful cash tender offer illustrates its strategic efforts to refine its financial landscape and manage its repayment obligations effectively, thereby ensuring greater resilience in an ever-evolving market. This move not only facilitates liquidity for the company but also fortifies its position among peers in the power generation sector.