FirstCaribbean International Bank via its Capital Markets Unit has successfully completed a US$100 million, 30-year, bond issue for the Commonwealth of the Bahamas.
FirstCaribbean and RBC Capital Markets were the joint-lead managers for the transaction. The bond, which was oversubscribed, was placed with international and regional investors and was the first type of deal from a Caribbean sovereign since the start of the year.
Ian Chinapoo, managing director, Capital Markets, noted the achievement of this particular bond issue.
He explained that this bond issue was the longest tenor paper placed by the FirstCaribbean Capital Markets team to date and equals the longest tenor achieved by the Commonwealth of the Bahamas in the international debt market. The proceeds of the bond will help the government of the Bahamas to finance general development in the country.
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