Bahamas News
BAHAMAS: Royal Fidelity Raises $134 Million For NAD
#Nassau, April 17, 2019 – Bahamas – Royal Fidelity Merchant Bank & Trust is pleased to announce that it served as Co-Placement Agent with CIBC World Markets Corp, New York to the Nassau Airport Development Company (NAD) in its recently completed Placement of $134,750,000 in participating debt notes. Royal Fidelity also acted as sole Escrow Agent for the deal. NAD is the Government selected company that manages the development and operation of the Lynden Pindling International Airport. These funds enabled the company to refinance existing higher interest debt.
“Royal Fidelity, our Escrow Agent and Co-Placement Agent, played a critical role in the closing of the Placement and strategizing tactics to secure prospective purchasers. We enjoyed working with Royal Fidelity on this complex transaction and are pleased with the outcome,” stated Walter Wells, NAD Board Chairman.
“We were thrilled to represent NAD in such a large Placement,” stated Jim Wilson, VP Investment Banking at Royal Fidelity. “NAD has done an excellent job managing the airport here and we look forward to working with them in the future.”
Deal Contacts
Jim Wilson,
VP Investment Banking
242-603-6000
Geron Wilson
Investment Banking Advisor
242-603-6000
geron.gibson@royalfidelity.com
About Royal Fidelity
Since inception in 1997, Royal Fidelity has been committed to helping clients create and manage wealth. We are your local private bank connecting Bahamians and Barbadians with the best in local and international investments. Collectively, we have helped clients raise in excess of USD $1.8 Billion in capital and we have $2 Billion+ assets under administration. Offering a wide range of investment products and services in Barbados and The Bahamas, our financial solutions are designed to help individuals and corporate clients meet and achieve their investment goals. These include Mutual Funds, Investment Management, Investment Banking, Group & Personal Pension Plans, Personal Retirement Accounts, Stock Brokerage, Trust & Estate Planning and Educational Investment Accounts.
For more information, please visit http://www.royalfidelity.com and follow us on Facebook @royalfidelitybanktrust