The Trinidad & Tobago Stock Exchange Limited (TTSE) was established in 1981. Currently there are thirty-eight (38) local and regional companies listed on the Exchange with a total market capitalization of approximately TT$76 billion (US$12 billion), and sixteen (16) government bonds with a total face value of approximately TT$12 billion. These listings offer the market a range of investment opportunities comprising equities, mutual funds and government bonds.
On June 4th 2010 the TTSE launched its Corporate Bond Market to meet the growing demand for fixed income securities. Keeping true to its mission to “facilitate the efficient mobilization and allocation of capital”, the TTSE’s Corporate Bond Market is intended to offer new investment opportunities that provide further portfolio diversification to investors.
The market opened on June 4th with the listing of three (3) bonds issued by Scotiabank Trinidad & Tobago Limited. The details of these bonds are shown in the table below:
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DETAILS
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BONDS
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Symbol
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SBTT 150214
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SBTT 150815
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SBTT 180811
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Face Value
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TT$500 Million
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TT$300 Million
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TT$200 Million
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Issue Price
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TT$100.00
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TT$100.00
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TT$100.00
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Coupon Rate:
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8.35%
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8.45%
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6.30%
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Interest Rate Type
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Fixed
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Fixed
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Fixed
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Day Basis
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180/360
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180/360
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Actual/365
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Maturity Date
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February 15th 2014
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August 15th 2015
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August 18th 2011
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Tenor
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6 Years
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7 Years
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6 Years
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Payment Schedule
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Semi Annual
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Semi Annual
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Semi Annual
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Coupon Payment Dates
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February 15th, August 15th
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February 15th, August 15th
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February 18th, August 18th
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Principal Repayment
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Bullet
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Principal repaid in 3 equal payments commencing August 15th 2014
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Bullet
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Registrar
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Scotia Trust Merchant Bank
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Scotia Trust Merchant Bank
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Scotia Trust Merchant Bank
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Trustee
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First Citizens Trustee Services Limited
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First Citizens Trustee Services Limited
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First Citizens Trustee Services Limited
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Transactions in the Corporate Bond Market will take place on the TTSE’s electronic trading platform, thereby providing the opportunity for faster order execution and greater transparency. Furthermore, trades occurring on the floor of the Exchange do not incur stamp duty, thus reducing the investors’ costs of trading fixed income securities.
The launch of the Corporate Bond Market is yet another innovative step taken by the TTSE. In January 2008, the TTSE launched its electronic GORTT bond trading platform, listing seven (7) bonds issued by the Government of the Republic of Trinidad & Tobago. At present sixteen (16) Government Bonds are listed on the Exchange. In 2009, activity in this market registered at TT$738.7 million. For 2010, this figure currently stands at approximately TT$1.2 billion.
The Trinidad & Tobago Stock Exchange Limited continues to work tirelessly in its efforts to develop the local capital market by offering dynamic investment opportunities within a regulated environment.
