NIF pays out $112m to bondholders

The National Investment Fund (NIF) has paid out $112.2 million to bondholders.

In an advertisement on Tuesday, NIF said that on August 9, the sixth distribution interest payment of $112.2 million was made to over 7,500 bondholders on the three series of its $4 billion bond.

“Total interest distributions of $673.2 million have been paid out to bond holders, since the successful launch of NIF in July 2018. On February 9, 2022, NIF will make the next semi-annual coupon payment to bond holders.

“NIF’s well-structured and diversified portfolio which was established with a value of $7.9 billion has been increasing, reaching $9.3 billion in December 2020 and $10.1 billion in June 2021.”

It said despite the covid19 pandemic challenges its investee companies continued to achieve operational efficiency, a cornerstone of their enterprising spirit.

NIF was formed in 2018 by the government to hold assets from Republic Financial Holdings Ltd, One Caribbean Media Ltd, West Indian Tobacco Company Ltd, Angostura Holdings Ltd, and Trinidad Generation Unlimited.

In May 2018 the company was incorporated as corporation sole for the purpose of holding and monetising assets transferred by the government in repayment of the debt owed to the government by Clico and Clico Investment Bank Co.

It is also authorised to issue an unlimited number of ordinary shares with no restrictions on their transferability.