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FIRSTCARIBBEAN CLOSES US$46 MILLION FINANCING WITH
GRACEKENNEDY |
Bridgetown, Barbados, March 28, 2007 – FirstCaribbean
International Bank announced today that it has closed a
US$46 million transaction with GraceKennedy Limited, one of
the Caribbean’s leaders in the distribution, financial and
food processing industries.
The closing of the financing facility, with FirstCaribbean
Capital Markets as the sole arranger, supports
GraceKennedy’s acquisition of WT (Holdings) Limited Group of
the United Kingdom. The Facility was underwritten by
FirstCaribbean International Bank (Jamaica) Limited.
“FirstCaribbean is pleased to support GraceKennedy in
achieving this landmark acquisition. Our Capital Markets
team continues to pursue diverse transaction opportunities
as a market-leading corporate financier and provider of
investment banking services,” said Ian Chinapoo, Executive
Director, Capital Markets.
With the recent acquisition, GraceKennedy will gain access
to a growing ethnic and specialty foods consumer group in
the UK’s retail, wholesale and food service markets. WT
(Holdings) Limited Group, with annual sales of around £60
million, runs a modern distribution facility and office
space north of Central London.
FirstCaribbean Capital Markets continues to raise debt
capital for governments, state-owned enterprises and private
and public companies. In addition to debt underwriting and
structured project finance, the unit’s product and service
suite includes Equity Underwriting, Syndicated Loans and
Structured Finance offerings.
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