The government refinanced the $246 million bridge loan facility it assumed responsibility for in 2020 to cover the Bahamas Power and Light’s (BPL) legacy debt.
Documents obtained by Guardian Business reveal that the refinancing took place on January 28, after the government was unable to make the balloon payment even after an extension.
The bridge loan facility was refinanced at a lower amount of $171.8 million, set to mature in five years.
BPL planned on repaying that loan facility through its rate reduction bond (RRB), which had several setbacks during the course of the COVID-19 pandemic.
https://thenassauguardian.com/govt-refinanced-246-mil-bpl-debt-at-reduced-amount/
jeansofagenius 2 yrs
Big money