Royal Fidelity raises $134,750,000 for NAD

NASSAU, BAHAMAS – Royal Fidelity Merchant Bank & Trust on Wednesday announced  that it served as the Co-Placement Agent with CIBC World Markets Corp, New York, to the Nassau Airport Development Company (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,” said Walter Wells, NAD’s Board Chairman.

“We were thrilled to represent NAD in such a large Placement,” said Jim Wilson, VP of  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.”