Trinidad Generation Unlimited Raises $525 Million in Notes Issuance
Deal News | Aug 13, 2025 | Paul Hastings
Paul Hastings LLP has been instrumental in advising Trinidad Generation Unlimited (TGU) on a significant capital market maneuver. TGU issued $525 million in senior notes with a 7.750% interest rate that will mature in 2033. Along with this issuance, TGU also initiated a tender offer for its existing 5.250% senior unsecured notes due in 2027. This financial strategy helps TGU manage its debt profile while maintaining its operations in Trinidad and Tobago, where it operates the largest combined-cycle natural gas-fired power plant. The Paul Hastings team featured expertise from partner Alex Herman, with additional support from partner Jeff Ramsay and associates Anna Barbosa, Gaby Jassir, and Will Yu. Recognized globally, Paul Hastings combines top-tier advisory prowess across several key practice areas, empowering corporations like TGU to perform seamless financial transactions.
Sectors
- Energy
- Legal Services
- Financial Services
Geography
- Trinidad and Tobago – Home to TGU's operations, which include the largest power generation plant in the nation.
Industry
- Energy – TGU is involved in energy generation as it operates a natural gas-fired power plant.
- Legal Services – Paul Hastings LLP provided legal advisory services in the notes issuance process.
- Financial Services – The notes issuance involves complex financial transactions for capital markets.
Financials
- $525 Million – Total aggregate principal amount of the newly issued 7.750% senior notes due 2033.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Trinidad Generation Unlimited | Target Company | Company | Owner and operator of the largest power generation plant in Trinidad and Tobago. |
| Paul Hastings LLP | Legal Advisor | Company | A premier law firm advising on the notes issuance. |
| Alex Herman | Lead Partner | Person | Led the Paul Hastings team in advising TGU. |
| Jeff Ramsay | Partner | Person | Part of the Paul Hastings legal advisory team. |
| Anna Barbosa | Associate | Person | Assisted in advising TGU with the issuance. |
| Gaby Jassir | Associate | Person | Assisted in advising TGU with the issuance. |
| Will Yu | Associate | Person | Assisted in advising TGU with the issuance. |