Butterfield opens undergraduate scholarship applications
Butterfield has announced that the 2023 Cayman Islands Undergraduate Scholarship is open to applications.
Now in its 30th year, the scholarship is awarded annually to outstanding students between the ages of 17 and 25, and was established to celebrate Butterfield’s 25th anniversary in Cayman. The $30,000 scholarship can be maintained for up to four years of full-time undergraduate education.
Andrew Burns, Butterfield’s group head of human resources, said the scholarship programme is a cornerstone of the bank’s commitment to providing opportunities for young people and a continued investment in the community.
The criteria for selection include academic excellence, community involvement and sporting attainments, financial need, and a candidate’s demonstrated ability to lead.
The application deadline is Friday, 31 March 2023.
To apply, eligible candidates should visit https://www.butterfieldgroup.com/careers/scholarships.
Carey Olsen advises Transocean on note offering
Carey Olsen’s corporate team in the Cayman Islands has advised Transocean Titan Financing Limited, a wholly-owned indirect subsidiary of Transocean Ltd., on its issuance of US$525 million in aggregate principal amount of senior secured notes due 2028.
Transocean is a leading international provider of offshore contract drilling services for oil and gas wells.
The notes will be guaranteed by Transocean Ltd., Transocean Inc., and a wholly-owned indirect subsidiary that owns and initially will operate the Deepwater Titan and will be secured by a lien on the Deepwater Titan and certain other assets related to the rig.
The notes will bear interest at the rate of 8.375% per year and will be callable after 1 Feb. 2025. The net proceeds from the notes will be used to partially finance the construction, acquisition, improvement or alteration of the Deepwater Titan and to fund the initial debt service reserve.
JTC’s Caribbean team wins gold at Citywealth IFC Awards
JTC’s has picked up gold at this year’s Citywealth IFC Awards. Announced at a ceremony on 24 Jan. in London, JTC was named the winner in the ‘Trust Company of the Year – Caribbean’ category.
Now in their 12th year, the Citywealth IFC Awards aim to highlight the excellence of advisers and managers in the private wealth sector across the major international financial centres.
Winners are selected by an international panel of practitioners from multiple jurisdictions, based on their achievements, their innovative approach and their clear expertise.
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