Sep 2004 Financial News

RBTT Closes Largest USD Syndicated Facility in the Caribbean

Sep 29, 2004

RBTT successfully closed its dual-tranche two-year syndicated facility at US$115 million, after raising over US$150 million in commitments, the highest syndicated financing by a financial institution in the Caribbean. The transaction was initially launched in the international capital markets at US$70 million, but was increased because of the tremendous interest.

“This, no doubt, attests to our excellent reputation and credit rating in the international financial community,” said Mr. Lyndon Guiseppi, Deputy Managing Director of RBTT Bank Limited. “This substantial interest that international entities have demonstrated in working with RBTT suggests that we have made significant strides in establishing a dynamic presence in the global financial arena.”

The syndicate members include 16 banks from the United States, Europe, Latin America and Asia, with RBTT’s major partners being ING Capital LLC serving as lead arranger, along with co-arrangers Wachovia Bank N.A., Natexis Banques Populaires, and Dresdner Bank Lateinamerika A.G.

“Engaging in this activity enables RBTT to meet its goal of being the pre-eminent financial institution in the region,” said Mr. Kerri Maharaj, Treasurer, RBTT Bank Limited.

RBTT, recognised as the Number 1 Caribbean-owned banking and financial services institution in the region, maintains its BBB- investment grade rating by Fitch Ratings.

Source: RBTT