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March 30, 2012

Michael Anderson

Stories this photo appears in:

Cayman deal to ‘triple’ RoyalFidelity pensions

A Bahamian investment bank is simultaneously closing the $40m financing for its management buyout while pursuing a Cayman acquisition that will “more than triple” its pension business.

Stocks to match 10% upside in '14

A top investment banker yesterday predicted that the Bahamian stock market will next year “at least” match the 10 per cent upside he anticipates for 2013, telling Tribune Business: “New Providence needs to get out of a hole.”

Port's 5.5% 'low' cannot be matched

The Arawak Port Development Company (APD) has decided to keep the $15 million oversubscription from its recently-completed preference share offering, a top investment banker yesterday saying he “doubted” whether its low 5.5 per cent interest rate could be matched.

'Be sensitive over $465m Gov't borrowing'

The Government and private sector must be “sensitive” to prevent the former’s planned $465 million borrowing over the next 12 months from ‘crowding out’ other capital markets fund raisings, a top investment banker has warned.

Fund's 'flagship' targets 10% pts occupancy growth

The Bahamas Property Fund is targeting a 10 percentage point increase in occupancy rates at its flagship downtown Nassau building to 80 per cent by year-end, having successfully leased “a couple thousand square feet” for 2013 to-date.

Top banker: ‘No reason’ to alter 10% stock market rise prediction

A top investment banker yesterday said he saw “no reason” to change his prediction that the Bahamian stock market will end 2013 up 10 per cent, following the release of data showing its rebound had extended into an eighth month.

Property Fund targets 5-10% vacancy drop

The BISX-listed Bahamas Property Fund yesterday said it was targeting a five-10 percentage point reduction in 2013 vacancy rates at its flagship downtown property, telling Tribune Business this could instantly improve the full-year bottom line by $250,000-$500,000.

Stock market 'most promising it's looked for three-four years'

The Bahamian stock market’s current position is “the most promising it’s looked for three-four years”, a leading investment banker said yesterday, recovery having started in February 2012 after the long-standing oversupply of ‘Sell’ orders was eliminated.