Aruba Airport Authority N.V. (AAA) officially signed the Financial Closing documents with all the lenders on Monday October 1st, 2018 at Aeropuerto Internacional Reina Beatrix.
This was followed by a reception where the lenders and all other stakeholders were officially thanked for their efforts in making this financial close a realization.
A total loan facility of AWG 495 million, of which AWG 236.4 million in Aruban Florins and the rest in US dollars has been agreed to and a total of 12 lenders, namely, VidaNova Bank N.V., the Agent Bank, Security Agent and Paying Agent representing all the lenders being Aruba Bank, Algemeen Pensioen Fonds van Curacao (APC), Caribbean International Banking Corporation (CIBC), Caribbean Mercantile Bank (CMB), FATUM, MetaFund, Panamerican Life Insurance (PALIG), Royal Bank of Canada (RBC), Stichting Bedrijfspensioen Aruba (SBA), Stichting Fondo di Pensioen di Trahadornan di Empresanan y Fundacionnan Publico (SFPEPP), and Stichting Pension Fund Tourism Sector Aruba (SPTSA) are participating in this dual currency facilities agreement.
All the lenders will participate in the construction bridge loan period of 5 years and thereafter either in 10-year or 15 year term loans.
AAA CEO Mr. James Fazio: “We are extremely proud of having reached this milestone within the Gateway 2030 expansion project. We are very thankful to all the lenders for their participation and their show of confidence in this very important project not only for the airport, but for the island of Aruba as well.”