Government seeks to raise US$1 billion

News Sean Douglas Yesterday

Minister of Finance Davendranath Tancoo. - Photo courtesy Office of the Parliament

THE Government's plan to raise US$1 billion ($7 billion) was revealed in Legal Notice 9 of 2026 published online and dated January 13.

It was signed by Finance Minister Davendranath Tancoo, the day before.

The item said while the government intends to issue notes of up to US$1 billion on the international market and offer them for sale to qualified institutional buyers both within and outside of the United States, it was now expedient the minister make an order to do so.

It said the government appointed JP Morgan Securities LLC and Bank of America Securities Inc to act as joint lead managers/arrangers to facilitate the issuance of the notes.

With this deal being done under TT's External Loans Act (section six), the act allows the minister (by order) to exempt certain items – the payment of principal, interest and any other debt charges – from all taxes or exchange control.

"The payment of principal, interest and other debt charges in respect of the notes are exempt from all taxes and exchange control."