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What about the legal fees for the GuySuCo bond?
Dear Editor,
Permit to offer some advice to guide your investigative journalism with respect to the captioned matter. Firstly, I must commend your media house for the good work in investigating and reporting these issues of national importance.
I note NICIL responded to your article yesterday about the arranger fees for the $116M GuySuCo bond which they said such fees are normal.
That is correct indeed, however, there is another fee, which I haven’t seen reported in the public domain as yet and that is, legal fees.
The underwriting fees for such instrument would constitute the arranger fees plus legal fees. Given that this bond is the first and of such magnitude, and, that there is only one law firm in this country that has the capacity to underwrite a bond instrument, then naturally the legal fees would be much greater than the arranger fee.
I am presuming within the region of $200 -$500M, if it’s greater, it would not be surprising.
Hence, I would love to see your media house investigate this aspect and ascertain the legal fees for underwriting the bond and reveal that information to the public.
Avinash
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