MP concerned about reported loans by Trinidad Petroleum Holdings

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    Opposition MP David Lee is concerned at revelations that Trinidad Petroleum Holdings is reportedly set to borrow up to US 1.4 billion dollars, mostly from international banks.

    It follows a report from Reuters news agency, that the company intends to use funds to cover the US 850 million dollar bullet bond payment in August.

    Dr. Lee says it is beyond outrageous that citizens have to find out about these loans via foreign news service, and nothing has been said from the company nor the Energy Ministry.

    Chairman Wilfred Espinet has not made any statement regarding the company’s financing, or to confirm the information in the news report.

    The MP meanwhile, says the Opposition and the rest of the country now awaits the response from credit ratings agencies, and the impact that this will have on the country’s international reputation.

    Wilfred Espinet, Chairman of Trinidad Petroleum Holdings Company