Apr 2007 Financial News

ANSA Merchant Bank arranges $295m loan

Apr 12, 2007

ANSA Merchant Bank Ltd (AMBL) was the lead arranger of a $295 million loan for ANSA McAL Ltd. The loan note was arranged by AMBL and featured participation from two other financial institutions, First Citizens Bank and Republic Bank Ltd.

Issued at the end of December 2006, the notes are of short tenure and attractively priced in keeping with the security of the ANSA McAL Group.

A statement said the participation of three of the Caribbean’s foremost banking institutions in this significant transaction is a tangible demonstration of financial confidence in the region’s fastest growing conglomerate.

“This transaction will facilitate the Group in the restructuring of existing loans at more favourable rates and terms,” said David G Inglefield, ANSA McAL group marketing director.

Adrian Ford, managing director of Ansa Merchant, described the arrangement this way: “It’s great to partner with the region’s lead banking institutions, who understand our business and are willing to collaborate and provide strong financial support.”

Established in 1881, the ANSA McAL Group of Companies consists of more than 50 companies with operations in brewing, automotive, financial services, media and communications, services distribution, real estate and manufacturing in the Caribbean, US and South America.

The Group has an asset base of more than US$1 billion.

Source:
The Trinidad Guardian
Thursday 12th April, 2007

http://www.guardian.co.tt/business1.html