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CIG Line of Credit Success Acknowledged

Local News 01 Mar, 2021 Follow News

Minister for Finance and Economic Development, Hon. Roy McTaggart receives a plaque in acknowledgment from FCIB Managing Director, Mr. Mark McIntyre (Photos by Bina Mani, GIS)

(L-R) FCIB Director Corporate Banking Mr. Gemel Sobers, Managing Director (Cayman) Mark McIntyre, Minister for Finance and Economic Development, Hon. Roy McTaggart, Financial Secretary and Chief Officer, Mr. Kenneth Jefferson, Deputy Accountant General Mr

Minister for Finance and Economic Development, Hon. Roy McTaggart received a plaque today, Friday, 26 February 2021, to acknowledge the CI Government’s (CIG) successful conclusion of a line of credit and a loan facility from a consortium of four local commercial banks.

The consortium consisted of Butterfield Bank (Cayman) Limited, Cayman National Bank Ltd, FirstCaribbean International Bank (FCIB), which acted as the lead agent of the consortium, and RBC Royal Bank (Cayman) Limited.

The line of credit is for US$403 million which is available to CIG to access over the ensuing 16-months, should the need arise.

FCIB’s Managing Director, Mr. Mark McIntyre, Director Corporate Banking, Mr. Gemel Sobers and Head of Corporate Banking, Mr. Patrick Cover presented the plaques today to commemorate the transaction.

Mr. McIntyre presented a plaque to Minister McTaggart at the Government Administration Building, to mark the successful conclusion of the loan facility.

Also receiving plaques were the Financial Secretary, Mr. Kenneth Jefferson and Deputy Accountant General, Mrs. Gloria Myles.

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