RBC and Fatum generate 50 million dollars on the capital market

September 28, 2011 6:23 AM

Port-of-Spain – RBC Merchant Bank (Caribbean) has issued a five-year bond with a variable coupon of 50 million American dollars for Fatum Holding N.V.

It is the first time that RBC, the holding company of RBTT, issues such a bond in the Dutch Caribbean and is also the first transaction of Fatum Holding N.V. on the capital market.

By entering into this agreement, RBC clearly strengthens its ties with the Ducth Caribbean market, where this bank already managed earlier to generate almost 1 billion American dollars on the capital markets through RBTT Financial Group. That transaction involved institutional investors from Curaçao and the entire Caribbean.

“We are proud to have received this mandate”, Bruce Sim, Head of the Capital Markets and Capital Management division of RBC (Caribbean) Ltd, said. “Not only does this mark the entrance of the local and regional capital markets of Fatum, but it also shows the involvement of RBC/RBTT in the Dutch Caribbean market and the willingness to continue to work on the further development of the local and regional capital markets together with its corporate clients, investors, and supervisors.”

Fatum has been domiciled in Curaçao since 1904, and has expanded its activities in the Dutch Caribbean in the past 107 years. It is an important subsidiary of Guardian Holdings Limited Group, domiciled in Trinidad and Tobago, with a total turnover of approx. 200 million guilders in the Dutch Caribbean territories. Fatum, with a dominant position in the Dutch Caribbean and a staff of over 200, is one of the leading financiers of life insurance, non-life insurance, and health insurance products and services.

The response of Steven Martina, President and CEO of Fatum Holding N.V., is: “RBC Merchant Bank (Caribbean) Limited understood the need for financing of our company and appeared to be able to offer us a transaction that corresponds with our objectives. As a local financial institution, we are glad that we entered into the partnership with this globally operating organization, so that we are able to expand our insurance activities in the region.”

In the photograph: standing from left to right Darryl White (Head Investment Banking RBC Caribbean Ltd), Brent Ford (Managing Director Guardian Asset Management Ltd), Nigel Ferguson (Relationship Manager Corporate Banking RBC Merchant Banking Ltd). Sitting from left to right Steven Martina (President and Chief Executive Officer Fatum Holdings N.V.), Bruce Sim (Head Capital Markets RBC Caribbean Ltd), Jeff Mack (Group Chief Executive Officer, Guardian Holdings Ltd), Robert de Silva (President and Country Head RBTT Bank N.V. Curaçao and Bonaire).

22 September 2011