Standard International Group Advises on $193M in Financing for St. Maarten’s Princess Juliana International Airport Terminal Reconstruction
Standard International Group, a leading New York City-based boutique financial advisory firm with a focus on revitalizing critical infrastructure projects across the U.S. Municipal, Caribbean, and West Africa, announced the completion of $193M in financing for St. Maarten’s Princess Juliana International Airport (PJIAE) Terminal Reconstruction. André Wright, Executive Vice President of Standard International Group, made the announcement.
On behalf of St. Maarten and Princess Juliana International Airport, Mr. Wright advised on the $50M loan from The European Investment Bank (EIB) and $50M grant from The World Bank, for a total of $100M in investment capital combined with $22M from the Government of St. Maarten in the form of liquidity support. Mr. Wright also ensured the project received a maximum insurance claim payout of $71M by introducing Willis Towers Watson to serve as insurance advisory services provider.
Princess Juliana International Airport is among the busiest airports in the North Eastern Caribbean, serving St. Maarten, St. Martin, Saba, St. Eustatius, Anguilla, and St Barthélemy and is the engine of St. Maarten’s economy, serving over 1.8 million passengers and employing over 1,000 local residents each year.
Following the destruction from hurricane Irma, Princess Juliana International Airport required massive remediation and reconstruction. Standard International Group provided end-to-end advisory, from creating the financial models, structuring the plan of finance, liaising with current bondholders and providing rating agency advisory, with a vision of success and prosperity for this important project. The new airport design will feature security improvements and is expected to surpass its past performance. Terminal reconstruction is slated to commence in 2021.
For over 20 years, Standard International Group has worked collaboratively with St. Maarten leadership to create transformative solutions that improve the bottom line and local economy. During this period, Standard International Group has provided financial advisory for a variety of infrastructure advancements, including the original Princess Juliana International Airport transaction (2004), several financial advisory and capital raises for the St. Maarten electricity company (GEBE), cruise port facilities, shopping and real estate development, and other projects. With a long history of working with government leadership and multiple investment teams, Standard International Group was able to successfully complete these projects and ensure positive results for all stakeholders.
“Investing in better infrastructure, solutions for climate change and the well-being of local communities is a major priority across the Caribbean, but it is often a difficult process,” stated Mr. Wright. “Standard International Group specializes in securing financing for complex infrastructure projects, creating win-win situations for investors as well as communities.”