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Nassau, Bahamas, April 1, 2024: Colina Financial Advisors Ltd. (CFAL) is pleased to announce that it is facilitating the bond and equity offering for EA Energy, the company selected by the Government of The Bahamas to develop renewable energy plants on the islands of Abaco and Eleuthera. This offering will provide both debt and equity financing for the project. The offering will commence on Tuesday, April 1, 2025, and will remain open until Wednesday April 16, 2025.
The corporate bonds offered will feature a semi-annual interest rate of 8%, with the first interest payment scheduled for October 30, 2026. These bonds will mature on April 30, 2045. This initial offering will target institutional investors, primarily the likes of pension funds and mutual funds that provide access to investments for thousands of investors, However, CFAL will conduct a retail offering to the public at the end of the second quarter, whereby individuals will be able to invest $1,000 or more into the project.
EA Energy aims to raise $132.5 million to support the development of two separate power plants – one for each island – designed to improve the reliability and sustainability of electricity in Abaco and Eleuthera. These plants will use a combination of liquified natural gas (LNG) and solar energy, helping to meet the growing energy needs of these communities while also promoting environmental sustainability.
Investors interested in in subscribing should visit www.cfal.com/offerings to view the offering memorandum, term sheet, application instructions and forms. Investors with questions can contact registrar@cfal.com and are encouraged to follow our social media pages for further updates regarding the retail offering.