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$495m bond to fund community sports facilities

Friday, December 20, 2013
Announcing details of the fixed rate bond are, from left, Gregory Hill, managing director, Ansa Merchant Bank, Sports Minister Anil Roberts, Ashwin Creed, Permanent Secretary in the Ministry of Sport and John Mollenthiel, CEO of Sportt.

Ansa Merchant Bank will arrange and fully underwrite a 17-year fixed rate bond for $495,937,500 to be issued by the Sports Company of T&T (Sportt) to partially finance development of nine regional recreational facilities. At 2.30 pm yesterday, at the law offices of Hamel Smith M & Company, Sportt and Ansa Merchant Bank signed off on the historic bond. The signing was witnessed by Sports Minister Anil Roberts and Ashwin Creed, Permanent Secretary.


The facilities will be customised to fit the geographic space and needs of each community and wide range of amenities are planned. These will include pavilions or bleachers, multi-purpose hall, entertainment area, swimming pool, play park and practice nets.


The nine recreational facilities to benefit from the bond are Irwin Park, Siparia; Penal Recreation Ground; Eddie Hart Sporting Facility; Brian Lara Recreation Ground; Dass Trace Recreation Ground, Cunupia; Carapo, Arima; India Trace, Malabar; Northern Recreation Ground, Diego Martin; and Alescon Comets, Charlieville.


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