has been awarded the Project Finance Latin America Project Bond Deal of the
Year, for its role as joint lead arranging bank and local placement agent in
the US$265 million financing for the redevelopment of the Lynden Pindling International
Airport in Nassau, the Bahamas.
FirstCaribbean won the Project
Finance magazine award for its placement of several debt facilities in March
2009, including the Nassau
Airport Development Company B$30M and US$12M, 22.75-year Senior Notes as well
as the US$60M and B$10M, 25-year participating debt facility.
FirstCaribbean acted as placement
agent for the local currency portion of the senior notes and the subordinated participating
debt facility. FirstCaribbean also assisted in placing the USD portion of the
financing locally, due to the depressed US Financial market.
Ian Chinapoo, FirstCaribbean’s
managing director, Investment Banking & Sector Specialist – Sovereigns,
noted that the win is an acknowledgement of the overall strategy which the bank
has put in place to create growth opportunities within the current environment.
clients evolve and adapt to new market and business realities in the region and
beyond, we must anticipate their challenges and opportunities, positioning ourselves
to be their strategic partner,” he observed.
Project Finance Magazine is
Euromoney Publications’ international infrastructure finance title.