Search results for : loan
Hilton's shareholders battle over 19m loan
Hilton's shareholders battle over 19m loan
By NEIL HARTNELL
Tribune Business Editor
The Boardroom battle at the British Colonial Hilton has been exposed by a ruling that effectively prevents the majority shareholder from refinancing its own $19.09 million bridging loan to the property, something it alleged had created a $3.4 million "net benefit" for the downtown Nassau resort.
The 30-page verdict by Canadian arbitrator Stan Fischer, a ...
Central Bank issues alert over consumer loan scam
Central Bank issues alert over consumer loan scam
NASSAU, BAHAMAS — The Central Bank is cautioning the public to avoid falling victim to fake internet ads and social media posts offering loans and other financial services purportedly from the Central Bank of The Bahamas. The regulator, in a notice on the consumer loan alert scam, warned that links associated with these posts should [...]
Water Loan Deal
Water Loan Deal
GOVERNMENT yesterday put forward a multi-million dollar loan resolution to facilitate much-needed overhauls and upgrades to water and sewage infrastructure.
WHOLLY UNACCEPTABLE: Opposition rejects delay in releasing details of $500 million loan
WHOLLY UNACCEPTABLE: Opposition rejects delay in releasing details of $500 million loan
NASSAU, BAHAMAS — The Opposition continues to demand transparency and full disclosure regarding a recent $500 million Inter-American Development Bank (IDB)-backed loan, with its Shadow Finance Minister calling it "wholly unacceptable" to delay the release of those details. In mid-January, the government announced what it described as a "landmark transaction" and the country's largest credit-enha...
Government to provide full disclosure on $500 million IDB backed loan says Halkitis
NASSAU, BAHAMAS — Economic Affairs Minister Michael Halkitis said that the government will fully disclose all details regarding the $500 million commercial loan secured via an Inter-American Development Bank guarantee last month, as mandated by law, noting that these details will be included in the upcoming quarterly debt statistical report. The Opposition has continued to [...]
Opposition wants answers over $500 million loan
Opposition wants answers over $500 million loan
NASSAU, BAHAMAS — The Opposition is also voicing concern over the government's recent announcement regarding a $500 million commercial loan secured via an Inter-American Development Bank (IDB) guarantee. Kwasi Thompson, the Opposition's Shadow Finance Minister, said that the Ministry of Finance's statement on the matter "fails any reasonable measure of transparency and clarity." "The Governmen...
The Bahamas secures $500 million 10-year commercial loan via IDB guarantee
Well-known banker calls for more transparency on interest rates and guarantee conditions. NASSAU, BAHAMAS — The Bahamas has closed on a $500 million 10-year commercial loan leveraging a policy-based Inter-American Development Bank (IDB) guarantee the government has announced, with a well-known banker noting that its announcement lacked several vital details such as the interest rate [...]
The Bahamas closes a $500m international loan benefitting from a first-loss IDB guarantee
The Bahamas closes a $500m international loan benefitting from a first-loss IDB guarantee
The Commonwealth of The Bahamas successfully closed a $500 million 10-year international commercial loan benefitting from a first-loss Policy-Based Guarantee provided by the Inter-American Development Bank (“the IDB”, S&P [AAA/Stable]) and arranged by Banco Santander, S.A. (New York Branch) as Global Coordinator and Mandated Lead Arranger (“Santander”, S&P [A+/Stable]).
South Riding Point owner secures $71 million US EXIM Bank loan for energy terminal's relaunch
South Riding Point owner secures $71 million US EXIM Bank loan for energy terminal's relaunch
NASSAU BAHAMAS — The Liwathon Group, a global leader in the energy sector, has announced that it has secured approval from the US Export-Import Bank of the United States (EXIM) for a loan guarantee exceeding $71.3 million, which will support the upcoming relaunch of the South Riding Point energy terminal on Grand Bahama. Commenting on [...]
Pintard criticizes government over Saudi Loan and non-compliance with Procurement Act
NASSAU, BAHAMAS - Opposition leader Michael Pintard is slamming the Davis administration over recent comments regarding a $70 million Saudi loan and the government's delay in complying with the Procurement Act. Pintard said in a statement, "Instead of doing the right thing and offering a heartfelt apology for them breaking the law yet again by [...]