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FortisTCI Limited Secures US$90 Million Private Placement Loans

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Providenciales, Turks and Caicos Islands (December 18, 2014) – FortisTCI (the Company) announces today the closing of a US$90 million private placement consisting of US$80 million 4.75% Senior Notes, Series 2014-A, due December 18, 2029, and US$10 million 4.75% Senior Notes, Series 2014-B, due January 15, 2030.

The debt offering was privately placed with institutional investors in the US Private Placement Market. Bank of America Merrill Lynch acted as sole placement agent for the Company. Proceeds will be used for repayment on short term debt and to finance ongoing capital expenditures. The process started in September and the FortisTCI team had to promote the Company and the Country to the high-quality institutional investment community. Prior to this, the Turks and Caicos Islands were not an approved investment jurisdiction for these blue chip institutional investors.

President and CEO Eddinton Powell said, “This is a historic achievement for the Company and the Country. Having achieved a BBB; Outlook Stable credit rating this year, we are pleased to be the first corporate entity in the Turks and Caicos Islands to secure financing in the US Private Placement Market. The electricity utility business is very capital intensive and the Company must have access to the international capital markets. Also, we would not have been able to achieve this without the full support and backing of our parent Company, Fortis Inc.”

The debt issuance was led by the Company’s Chief Financial Officer (CFO) Ruth Gardiner-Forbes and the Company’s Director of Financial Services, Archie Gaviola. Mr. Powell added “while this is an enterprise-wide achievement, I would like to recognize the salutatory work done by Ruth and Archie in bringing this to fruition. In addition, we recognize the cooperation of our local banking partners. Indeed, there were four law firms in the United States and the Turks and Caicos Islands working concurrently on this debt issuance which speaks to the complexity of the exercise.”

The Notes will not be registered under the United States Securities Act of 1933 (The
“Securities Act”) as amended, nor will they be registered under any state securities laws. Unless so registered, the Notes may not be sold except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws.

FortisTCI is the sole provider of electricity on the Islands of Providenciales, North Caicos, Middle Caicos, East Caicos and adjacent Cays, and South Caicos. TCU, a wholly owned subsidiary of FortisTCI, is the sole provider of electricity on the islands of Grand Turk and Salt Cay. Together the two companies serve over 13,000 electricity customers in the Turks & Caicos Islands.

Magnetic Media is a Telly Award winning multi-media company specializing in creating compelling and socially uplifting TV and Radio broadcast programming as a means for advertising and public relations exposure for its clients.

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DEPARTMENT OF TOURISM REGULATIONS INTRODUCES “RATE YOUR RIDE” SYSTEM FOR TOURISTS VISITING THE TURKS AND CAICOS ISLANDS

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FROM THE MINISTRY OF TOURISM

 

Providenciales, Turks and Caicos Islands, 27th March, 2024 – Providenciales, Turks and Caicos Islands: The Department of Tourism Regulations is proud to unveil the “Rate Your Ride” system, a new initiative designed to enhance the vacation experience for tourists exploring our picturesque islands.

The “Rate Your Ride” system empowers tourists to provide valuable feedback on the quality of transportation services they receive while visiting the Turks and Caicos Islands. Through an easy-to-use online form, tourists can rate factors such as cleanliness, comfort, safety, and professionalism of drivers, helping us to assure the highest quality of service standards across all modes of transportation.

By participating in the “Rate Your Ride” system, tourists play a crucial role in shaping the future of transportation services in the Turks and Caicos Islands. Their feedback will enable us to identify areas for improvement and ensure that every visitor enjoys safe, comfortable, and convenient travel throughout their stay in the Turks and Caicos.

The code will also be publicly accessible through the cooperation of volunteer drivers who will make the rating code available in their vehicles. Flyers and stickers displaying the code will be distributed at hotels, resorts and airports. The mandated display of these codes is expected to align with the rollout of our tourism regulations in 2025.

For more information about the “Rate Your Ride” system and other initiatives by the Department of Tourism Regulations, please visit gov.tc/tourismregulations/or contact us via telephone at 946-4970 and email at tourismregulations@gov.tc.

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THE DEPARTMENT OF BEHAVIOURAL HEALTH SERVICES CONDEMNS RECORDING OF PERSONS WHO ARE IN CRISIS

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FROM THE MINISTRY OF HEALTH AND HUMAN SERVICES

 

Providenciales, Turks and Caicos Islands, 27th March 2024– The Department of Behavioral Health Services is appealing to the general public to refrain from recording and circulating videos of persons who may appear to be experiencing a mental health crisis. Anyone can experience a mental health crisis at some point in their life. According to the World Health Organization, 1 in 4 people will experience a mental health problem in any given year. Persons may struggle with very common conditions such as Anxiety and Depression or be diagnosed with more serious conditions like Bipolar Disorder or Psychosis.

“There are a lot of misunderstandings about various mental health conditions and how they may manifest. In addition, there are a number of negative perceptions and misconceptions that society exhibits towards people with mental health problems. However, just as we would show care and concern for someone diagnosed with Cancer, or any other physical illness, in the same way, we need to be as caring and helpful to persons with mental illnesses”– stated Director of the Department of Behavioral Health Services, Dr. Alicia Malcolm.

The Department is urging the public to call the following numbers if you see someone who appears to be experiencing a mental health crisis:

338-5473/338-3616: Providenciales, North or Middle Caicos

338-3614/338-3612: Grand Turk, South Caicos, Salt Cay

338-6301: Nights and Weekends

If someone is putting themselves or someone else in immediate, serious risk of harm, call 911.

The Department of Behavioral Health services is here to help and provides the following services which are free and confidential:

Location of above services:

o             Sam Harvey Building, Down Town, Providenciales,

o             Primary Health Care Department, Cheshire Hall Medical Center, Providenciales 

o             Department of Behavioural Health, Duncombe Alley, Grand Turk

 

Let’s all do our part in creating a community where people with mental health problems feel respected, supported and cared for. 

For additional information, please visit the Ministry of Health’s Facebook page on https://www.facebook.com/tciministryofhealth/ or the Department of Behavioral Health Services Faceebook on https://www.facebook.com/TCIDBHS/.

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Breaking Ground: TCI Could Lead in Regional Communication Standards

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Cardiff, Wales, United Kingdom, 27th March 2024: The PR, marketing, and communications sector is poised for potential growth and could lead the Caribbean region in terms of industry standards says Damian Wilson. Wilson’s suggestion comes after the release of a new research report into the current trends and future direction of the sector as a possible emerging industry in the Turks & Caicos Islands (TCI).

Wilson is the report’s author, which conveys the findings of research which he initiated. “One of the key research results is the considerable optimism by industry practitioners and government alike, with persons seeing growth potential. I believe that we can become regional leaders in this field. I believe that one of the initiatives that could be used to do this is by establishing a ‘TCI Centre of Communications Excellence’ within the TCI Community College. Such an institute would be dedicated to communication and media innovation with a particular focus on digital communications and ICT,” says Wilson.

He further explained, “I believe that the PR, marketing, and communications sector, like much of the country, is at a crossroads and could have an even greater impact on our socio-economic fabric. Some may have concerns about our small size, but I believe this makes us far more agile than our neighbours. All in all, any potential growth must be underpinned by new investments, professional development, and a strategy to integrate the sector into the broader economy.”

Wilson also said that he sees his research as a first step in understanding our own industry sectors in the TCI and would love to see more profound research and analysis conducted. He’s hoping that the report will spark discussion along those lines. The report is entitled ‘Current Trends and Future Direction: A Preliminary Report on the PR, Marketing, and Communications Sector in the Turks & Caicos Islands’. Anyone wanting a copy of the report can contact Damian Wilson via his email, damian.wilson.pr@gmail.com.

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