The Na­tion­al In­vest­ment Fund 2 (NIF2) bond is sched­uled to be list­ed on the T&T Stock Ex­change (TTSE) at a cer­e­mo­ny at the in­sti­tu­tion’s In­de­pen­dence Square of­fice to­mor­row.

In a news re­lease, the TTSE said the list­ing of the NIF2 bond “marks an im­por­tant mile­stone in our fi­nan­cial land­scape.”

NIF2 has a face val­ue of $400 mil­lion and is a fixed-rate bond, ma­tur­ing in five years and pay­ing an an­nu­al in­ter­est rate of 4.5 per cent.

In a no­tice on the web­site of the TTSE last Fri­day, the Na­tion­al In­vest­ment Fund Hold­ing Com­pa­ny said the $400 mil­lion bond of­fer re­ceived 3,861 valid ap­pli­ca­tions that had a to­tal val­ue of over $1,066,323,000.

As a re­sult of the over­sub­scrip­tion of the bond of­fer, in­di­vid­ual in­vestors who ap­plied for bonds worth more than $20,000 will on­ly re­ceive the first $20,000 in full, with the bal­ance on a pro-ra­ta ba­sis. In­di­vid­ual in­vestors who ap­plied for bonds worth up to $20,000 will re­ceive 100 per cent of what they ap­plied for.

In­di­vid­ual in­vestors ap­plied for a to­tal of $735.51 mil­lion, which was 184 per cent of the bond’s of­fer size.

The NIF2 bond is backed by 6,546,417 shares in Re­pub­lic Fi­nan­cial Hold­ing Ltd, which were pur­chased by NIF from the Gov­ern­ment on No­vem­ber 20, 2023.

Those RFHL shares were worth $786,093,753.36 at the end of trad­ing yes­ter­day as the bank hold­ing com­pa­ny trad­ed at $120.08 per share.

In the no­tice on the TTSE web­site yes­ter­day, the NIF hold­ing com­pa­ny ad­vised that the fol­low­ing di­rec­tors have been reap­point­ed for a pe­ri­od of two years with ef­fect from March 8, 2024:

• Jen­nifer Lutch­man (chair)

• Nadi­ra Ly­der (di­rec­tor)

• Dex­ter Jag­ger­nauth (di­rec­tor)

• Cindy Pierre (di­rec­tor).

The NIF hold­ing com­pa­ny al­so ad­vised that Dil­lon Teelucks­ingh was ap­point­ed as a di­rec­tor of the com­pa­ny for two years with ef­fect from March 8, 2024.

Teelucks­ingh, and the oth­er four di­rec­tors of NIF, are all se­nior em­ploy­ees of the Min­istry of Fi­nance.

The NIF Hold­ing Com­pa­ny is 100 per cent owned by Cor­po­ra­tion Sole, the Min­is­ter of Fi­nance, and its of­fices are lo­cat­ed at lev­el 2 of the Er­ic Williams Fi­nan­cial Build­ing, where the Min­istry of Fi­nance is housed.