PROVIDENCIALES, Turks and Caicos Islands, July 12, 2010, – FirstCaribbean International Bank participated in the groundbreaking ceremony for the expansion of the Providenciales Airport, the gateway to the Turks and Caicos Islands. This project promises to signify a new era of transport in Turks and Caicos by enabling larger jets and ultimately more visitors.
FirstCaribbean Bank along with its partner Barclays Capital have been mandated to provide up to USD $70 million in financing for this redevelopment and expansion. Earlier this year, FirstCaribbean helped facilitate a USD 30M loan to assist in reacquiring 100% ownership of the Providenciales Airport Company. With a sound understanding of the Airport Authority’s business strategy, the FirstCaribbean’s Corporate Banking team devised a dynamic framework that enabled the Airport Authority to achieve significant benefits.
“FirstCaribben International Bank is proud to be part of this momentous occasion. For more than 40 years, FirstCaribbean International Bank has had a successful working relationship with the Turks & Caicos Islands Government and this has extended to one of its statutory boards: the Turks and Caicos International Airport Authority," said Peter Horton, Corporate Director of FirstCaribbean International Bank. “We would like to thank the Turks and Caicos Airport Authority for the confidence they have placed in us. We are pleased to have been chosen as your financial partner in helping facilitate this milestone and we look forward to working with you to ensure its successful conclusion.”
