London—Dentons has advised major Caribbean bank CIBC FirstCaribbean International Bank in respect of a multi-currency c. US$32,500,000 syndicated loan to GPH (Antigua) Ltd., a wholly-owned subsidiary of Global Ports Holding Plc, in respect of the financing of a long-term concession agreement including the construction, operation and maintenance of a new passenger cruise pier at St John's port in Antigua.

The new pier, when completed, will be capable of berthing the largest cruise vessels in the industry and will contribute to a growth in cruise tourism and the local economy in Antigua and the wider Caribbean region.

Global Ports Holding Plc is the world's largest cruise port operator with an established presence in the Caribbean, Mediterranean, and Asia-Pacific regions. The group holds a unique position in the cruise port landscape, positioning itself as the world’s leading cruise port brand.

CIBC FirstCaribbean International Bank led the syndicate, comprising three international banks, in its capacity as Agent, Security Trustee and Account Bank.

Dominic Spacie, consultant in Dentons' UK Energy and Infrastructure Finance team who led on the transaction, said, "We were pleased to advise on this significant financing which will support the growth of the Caribbean tourism industry, adding to a number of international infrastructure project financings which Dentons has advised on in recent months."

Alongside Dominic Spacie, the Dentons team included senior associates Tom Guilfoyle and Jamie Mills and associate Thomas Collier in London, and attorney-in-law Kerri-Anne Ellis in Barbados. Global Ports Holding Plc was advised by Bryan Cave Leighton Paisner LLP.

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