Camper & Nicholsons agrees $25m loan facility to complete new marina
Tuesday, November 11, 2008
Camper & Nicholsons Marina Investments (CNMI) has entered into a US$25 million term loan facility with The Bank of Nova Scotia which will be used to complete the development of its Port Louis marina in Grenada, West Indies. A first drawdown of some $11.7 million under the facility is expected to be made this week.
Port Louis marina will offer a total of 390 berths of which 73 are for superyachts. Phase two, comprising 10 superyacht berths, opens this month. This will bring into use a total of 25% of the water area available for development.
Chief executive Nick Maris said the company was delighted with Bank of Nova Scotia, which is one of the largest and most experienced project lenders in the Caribbean region.
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