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Article: US$280 MILLION LOAN FOR NEW RESORT.
- Article from:
- Caribbean Update
- Article date:
- February 1, 1999
CopyrightCOPYRIGHT 1999 Caribbean Update, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Hutchison Lucaya Ltd. has secured a US$280 million loan to develop a new resort in Freeport, Grand Bahama, according to The Tribune of Nassau, reports CANA (December 17, 1998). Hutchison is a subsidiary of Hutchison Whampoa, the giant Anglo/Chinese company:
The loan will be financed in U.S. currency through three major banking facilities on Grand Bahama - the Canadian Imperial Bank of Commerce (CIBC), Barclays Bank and Scotiabank, says Andy Hunter, Director of Finance and Administration for Hutchison Whampoa; Hunter said he hoped the participation of the banks would dispel any lingering doubts about Hutchison's ability to complete the project. "We get the ...