Dealmaker back at CIBC First Caribbean

Dealmaker back at CIBC First Caribbean

Beris Grey now heads investment banking in English and Dutch Caribbean

Steven Jackson

Wednesday, August 28, 2013

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CIBC First Caribbean confirmed that Grey started this Monday in Jamaica as executive director of investment banking. His remit will span the English and Dutch speaking Caribbean.

He first joined FirstCaribbean in 2004 as an associate director, then in 2007 was appointed director of capital markets for North Caribbean which included Jamaica , Bahamas, Cayman and Turks & Caicos. The new regional head learnt his trade in Belgium structuring deals including a "multi-jurisdiction secured facility, which was described as having one of the most innovative facility structures in Europe", according to 2011 cached descriptor on Grey by FirstCaribbean.

Grey joined Scotia Investments as senior vice president of origination and capital markets in its 2011 financial year and resigned effective August 9 this year. At Scotia he helped to structure multi-billion dollar deals, including a US$182 million ($18.5 billion) loan to Facey Group and the $1.2 billion Megamart deal.

Scotia Investments last December publicly lauded its largest loan customers. The ceremony revealed that Facey Group, one of the largest distribution companies in the Caribbean, secured a landmark US$182 million loan for refinancing and working capital requirements within the 30 territories in which it operates. The loan, completed in February, remains one of the largest across the private sector.

Facey Group's loan bettered other Scotia Investments awardees, including the Government of Jamaica, which obtained a US$150- million bond facility; National Water Commission, which obtained a US$115-million syndicated loan; Cost Club/MegaMart, which obtained a $1.2-billion own-lease project financing facility; Jamaica Producers Group, with its $1-billion bond placement; Seprod, for a $600-million bond; and Musson Jamaica, with a $500-million bond

Up to print, Scotia Investment's website proudly displayed a photo of Grey on its front page, while CIBCFirstCaribbean's website had yet to update its senior management team in the investment banking division.

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