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Royal Fidelity raises $135m for NAD

Royal Fidelity Merchant Bank & Trust has announced that it served as Co-Placement Agent with CIBC World Markets Corp, New York to the Nassau Airport Development Co in its recently completed Placement of $134,750,000 in participating debt notes. Pictured: Jim Wilson, VP investment banking at Royal Fidelity. (Photo courtesy Royal Fidelity)

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TheBahamasInvestor.com
Thursday, April 18, 2019
Thursday, April 18, 2019

Royal Fidelity Merchant Bank & Trust has announced that it served as Co-Placement Agent with CIBC World Markets Corp, New York to the Nassau Airport Development Co (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.”

The Bahamas Maritime Authority has announced the appointment of Captain Dwain Hutchinson as its new managing director and chief executive officer.

StarPort Resorts have released more details about the planned Port St George marina and waterfront destination on Long Island. View images of the proposed project here.

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