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CFAL Supports Youth Athletics with $5,000 Donation to National Swimming Championships

Nassau, Bahamas, June 18, 2024: Colina Financial Advisors Ltd. (CFAL) continues its steadfast support for youth athletics, donating $5,000 to the Bahamas Aquatics Federation’s 52nd National Swimming Championships.   This premier event, taking place at the Betty Kelly-Kenning National Swim Complex from June 20-23, will see nearly 500 swimmers compete in the season’s final swim meet, which also serves as the last qualifier for the Paris Olympics.   Algernon Cargill, president of the Bahamas Aquatics Federation, expressed deep appreciation for CFAL’s ongoing support.   “We are very grateful to CFAL for its continued support of Bahamas Aquatics. Corporate sponsors tend to move more to track and field, but swimming is a sport that has really done the most. We are the only federation to win CARIFTA for six consecutive years in The Bahamas and in the region,” he said.   Cargill emphasized the impact of swimming on the academic development of young athletes, noting that more than 150 swimmers with GPAs of 3.5 and above will be honored this year.   “The support from corporate Bahamas goes a long way. It shows the commitment, and it shows that when the swimmers work hard, they will be rewarded through the support of corporate Bahamas,” he said.   CFAL’s latest donation follows a similar contribution to the 2024 CARIFTA Swimming Championships held in April.   Pamela Ferguson, Vice President of Investments at CFAL, highlighted the company’s dedication to community and nation-building through supporting youth sports.   “I think sports are such a valuable tool to aid in the development of our youth. I fell in love with swimming a few years ago when I had some family members who were competing, and I continue to love and support the sport,” she said.   “Swimming provides so many opportunities for our young people to travel the world for meets, and gain access to scholarship opportunities. Swimming helps to build their lives and in turn help to build the lives of others.”   CFAL’s contribution underscores its commitment to fostering youth development and athletic excellence in The Bahamas.

CFAL Successfully Completes $145M Nassau Cruise Port Bond Refinancing

Nassau, Bahamas, May 1, 2023: Colina Financial Advisors Ltd. (CFAL) successfully completed refinancing of the $134.4 million Nassau Cruise Port Ltd. (NCP) bond on Friday, April 28th. The award-winning investment management firm raised $145 million on behalf of the cruise port operator by refinancing its eight percent unsecured bond and issuing a six percent unsecured bond. The team accepted applications for the offering between April 17 – 28, 2023. Executives of the cruise port anticipate that the refinancing will save the company about $3 million per year. Over 300 investors participated in this highly anticipated opportunity including existing NCP bond subscribers. These investors were encouraged to make additional subscriptions during the offering, which were received on a first come, first-served basis. The minimum investment required to buy into this time-sensitive offering was $50,000, with the option to invest in increments of $10,000 thereafter. The first interest payment will occur on December 31, 2023. Investors will receive interest payments twice annually (in June and December) until the bond matures on June 30, 2040. Angelo Butler, Senior Financial Analyst, confirmed that “Our target for the bond refinancing was $145 million, so we are extremely pleased with the response from the investment community. We want to thank the existing and new bond subscribers for their continued trust in CFAL, and to assure them that their assets will remain in the most capable hands until the bond matures.” Nassau Cruise Port utilized the initial bond proceeds to transform the port into a world-class, family friendly waterfront destination. The redevelopment effort included berth repairs & expansion and the creation of new attractions, entertainment, and food & beverage spaces to draw Bahamians and visitors to the reimagined downtown Nassau. The port project is anticipated to serve as a catalyst for further redevelopment of the area. Nassau Cruise Port will celebrate its official grand opening with a series of events celebrating the best of The Bahamas at the end of May. *** Colina Financial Advisors Ltd. (CFAL), established in 1997, is a leading provider of investment management, pension administration, retirement planning, corporate advisory, saving, and wealth management solutions in The Bahamas. The award-winning CFAL team has helped individuals and institutional investors secure their financial futures through research, innovation, expertise, and integrity. CFAL also offers free financial advice through the CFAL Talks podcast, which is available at cfal.com and on Apple and Google Podcasts. In 2022, CFAL celebrated 25 years of growing wealth for generations of Bahamians. Learn more about our client-centric approach at www.cfal.com.


26 April, 2024

CFAL Local Economic Review Q1 2024

Preliminary data for the first half of FY2023/24 (July – December) indicates that the overall deficit declined by $19.2M (6.9%) to $258.8M compared to the same period of FY2022/23. Advanced estimates for 2023 released by The Bahamas National Statisti...
26 April, 2024

CFAL Global Economic & Market Review Q1 2024

For the most part, economic output amongst the world’s developed economies remained stable in the first quarter, but concerns regarding a slowdown continue to persist. The International Monetary Fund updated its global growth forecast for 2024 from 3...
24 January, 2024

CFAL Local Economic Review Q4 2023

The Bahamas continues to face headwinds including relatively high inflation and slowing global growth. However, the positive effects of the post-pandemic rebound in the tourism industry and overall economy can be seen in the most recent economic data...

About CFAL

CFAL is a leading provider of pension administration, retirement planning, corporate advisory, investment management, saving, and wealth management solutions. Since 1997, we have helped corporations, governments, institutions, and individuals worldwide to secure their financial futures through innovation, expertise, and integrity. Learn more about our client-centric approach at www.cfal.com.

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