ABDAB, the Burns house shareholder whose largest shareholder is the family of entrepreneur Garet “tiger” Finlayson, is unlikely to meet its initial deadline of today for acquiring Solomon’s Mines, sources told The Tribune yesterday, as the company has found it hrder than anticipated to raise financing for thr deal.
ABDAB is understood to be seeking to finance its Solomon’s Mines purchase through a $25 million syndicated loan, which is being put together by The Bank of The Bahamas International, but has found it hard to raise the debt financing through a combination of banks, due in part to the lending caps that are still in place limiting the size of institutions’ loan books.
Source: The Tribune
