Sunday, May 17, 2020

Nassau Cruise Port raises over $130 Million through historic bond issue

 By Maya Nottage

Nassau, Bahamas  — Nassau Cruise Port Ltd. (Nassau Cruise Port) is pleased to announce that it has successfully raised over $130 million through its private bond offering. The bond offering was launched on May 4 and closed on Friday, May 15, 2020. Colina Financial Advisors Ltd. (CFAL), the lead placement agent for the bond issue, has confirmed that the offering was oversubscribed.

Mike Maura, Jr., CEO of Nassau Cruise Port, shared his appreciation for the support and confidence of so many investors and stakeholders during these difficult times. “We wish to thank the many investors who recognize the national importance of this project and have given us their backing. We are also very grateful for the assistance of the Central Bank of The Bahamas and the Securities Commission of the Bahamas, whose extensive support helped to make this effort so successful. Through construction and other requirements, our project will immediately produce much-needed jobs and support the creation of small and medium-sized businesses.”

“During these unprecedented times,” he continued, “this essential project will put food on the table for many Bahamians who didn’t know how they were going to feed their families in the weeks and months to come.” A 2018 economic impact assessment conducted by KPMG concluded that the project would have a $300 Million impact on the Bahamian economy during the development phase and a $15.7 Billion contribution over the 25-year concession period.  Read more >>