Officials representing the Nassau Cruise Port announced they had successfully raised over $130 million through its private bond offering.
According to The Tribune, Nassau Cruise Port CEO Mike Maura, Jr. and Colina Financial Advisors Ltd. (CFAL) confirmed the offering was oversubscribed and thanked investors and stakeholders for the support and confidence during the coronavirus outbreak.
“We wish to thank the many investors who recognize the national importance of this project and have given us their backing,” Maura told The Tribune. “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,” Maura continued.
The Nassau Cruise Port redevelopment is scheduled to take place in three phases, starting with the demolition of current buildings and structures, which has already begun. The second phase starts within 60 days and involves completing the marine work and expanding berthing capacity.
During the third phase, the port will focus on the development of a new arrivals terminal and food and entertainment spaces, including a Junkanoo Museum, a retail marketplace, an amphitheater and more landside projects.
The $130 million bond offering will be used to support the work of the first two phases, and the port will look to raise more equity in the second quarter of 2021 to complete the project.
“We received a considerable amount of interest from Bahamians who sought to participate in this phase of the fundraising but wanted to come in at a lower minimum threshold or to invest as a part of a group,” CFAL President Anthony Ferguson told The Tribune.
“We are considering alternative options that will give those who missed this opportunity a chance to invest with a slightly different framework. We’ll share that information once we have more details,” Ferguson continued.
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Uniworld’s ‘Heroes Among Us’ European Cruise Giveaway Open for Nominations
Uniworld Boutique River Cruise Collection is inviting its travel advisor partners and River Heritage Club Members to nominate the “unsung heroes” of their communities for a chance to win a free, seven-night European river cruise.
25 honorees will be selected by the Uniworld executive management team to receive their complimentary cruises, which consist of one stateroom for themselves and a guest on any seven-night 2021 or 2022 Uniworld, or U by Uniworld, European river cruise (excluding Portugal).
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“In these extraordinary times, Uniworld would like to celebrate the unsung heroes who make it possible for us to be home because they aren’t,” said Uniworld CEO, Ellen Bettridge. “We want to express our eternal debt of gratitude to these essential workers who are keeping us healthy, in body and spirit: the doctors and nurses, bus drivers and mail carriers, delivery people and grocery clerks, volunteers and first responders who have forged on despite their risk.”
Uniworld’s past guests and travel advisor partners are encouraged to enter on behalf of an exceptional everyday hero who, according to Bettridge, “has left a lasting impression by putting the needs of their community first during this COVID-19 pandemic.”
Nominations are being accepted online now through July 31, 2020, and the winners will be notified by August 5. Simply fill out the form with your nominee’s name, and their occupation or role in the COVID-19 response efforts, as well as your reasons for nominating them. You can also upload a photo or video to make your submission stand out.
For more information, visit uniworld.com/en/heroes-among-us/.
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