Guardian Holdings Subsidiary and RBC Merchant Bank raise US$50 million in the capital markets
Fatum, a member of the Guardian Holdings Group and RBC Merchant Bank recently signed a landmark transaction wherein RBC Merchant Bank (Caribbean) has arranged a 5-year floating rate note issue valued at US$50 million on behalf of Fatum Holding N.V. This is the first floating rate issue arranged in the Dutch Caribbean by RBC and it also marks the first capital market transaction for Fatum Holding N.V. The investor base in this transaction comprises institutional investors in Curaçao and throughout the Caribbean.
Fatum, established since 1904 in Curaçao, has expanded its operations in the Dutch Caribbean over the past 107 years. It is a key subsidiary of the Caribbean conglomerate, Guardian Holdings, which has a total revenue base of approximately ANG200 million in the Dutch Caribbean territories. Fatum maintains a dominant position in the Dutch Caribbean with a workforce of over 200 employees and remains one of the leading providers of life, general and health insurance products and services.
“We are proud to have been awarded this mandate,” commented Bruce Sim, Head, Capital Markets and Wealth Management, RBC Financial (Caribbean) Ltd. “Not only does this mark Fatum’s first journey to the local and regional capital markets, it also signals RBC/RBTT’s unwavering commitment to the Dutch Caribbean market and willingness to continue working with its corporate clients, investors and regulators to develop the local and regional capital markets.”
Steven Martina, Fatum President, commented that “RBC Merchant Bank (Caribbean) Limited understood the financing needs of our company and were able to structure a deal in keeping with our goals and objectives. As part of a Caribbean financial group, we are happy to have partnered with this global institution which will allow us to expand our insurance activities across the region”.