NASSAU, The Bahamas - A
Resolution was tabled in the House of Assembly January 30 to secure a
government guarantee for a $250 million private placement in the
International Financial Markets by the Bahamas Electricity Corporation
(BEC), as the Corporation seeks to restructure its debt portfolio.

Moving
the Resolution was Minister of State for Finance, the Hon. Michael
Halkitis, who pointed out that the government guaranteed $211 million of
the debt on the 20th October 2009 with an additional $35 million
borrowed on the 27th August 2012. When rounded off to $250 million, the
net contingent...