Royal Fidelity Merchant Bank & Trust Limited recently announced the completion of its fourth successful investment offering in 2011, a $10 million Private Placement of Preference Shares for Fidelity Bank (Bahamas) Limited in September.

The closing of this issue follows several highly successful local markets transactions for Royal Fidelity this year, including the $62.5 million Initial Public Offering of Commonwealth Brewery and a $31.7 million Private Placement for The College of The Bahamas in June.

In its capacity as financial advisor and placement agent, Royal Fidelity has raised more than $100 million for clients in the Bahamian Capital Markets over the first nine months of 2011.

The company started the year off by closing the second tranche of a $6 million private placement for Aetos Holdings Limited in January.

"It was a good start to the year," said Royal Fidelity President, Michael Anderson. "Aetos is a well-known operator in the Quick Service Restaurant business, but not a lot of Bahamians know that they own and operate the expanding Wendy's franchise."

Three months later in April, Royal Fidelity successfully completed the largest Initial Public Offering (IPO) in the history of the Bahamas, working in close association with teams from Holland, New York and the Bahamas to place $62.5 million worth of shares in Commonwealth Brewery—or 25 percent of the total value of the brewery – in the hands of Bahamian investors.

"An incredible number of firms and people were involved in this transaction," noted Manager of Royal Fidelity's Corporate Finance, Phillippa Ferguson-Wilson. "Securities regulators, law and accounting firms, and the advisory and placement agents all worked together to achieve the Government's mandate to make sure the Bahamian public had an opportunity to own a stake in a well-known company with a long history in the country."

Royal Fidelity completed its third Corporate Finance transaction of the year in June, by closing a $31.7 million fixed-rate Note program for the College of The Bahamas.

The issue was widely anticipated and warmly received by local investors, said Greg Walker, Royal Fidelity's Vice President of Corporate Finance.

"The College offering was highly successful and oversubscribed by 25 percent. The attractive seven percent fixed rate and 15-year term produced keen interest from both institutional and individual investors."

Finally, Fidelity Bank (Bahamas) Limited engaged their sister company in the third quarter of the year to raise $10 million of Perpetual Preference Shares to increase the Bank's Tier 1 capital and fund further growth. Completed in late September, the offering pushed Royal Fidelity over the $100 million mark for the first time in the firm's history.

Group Chairman of Fidelity Group, Anwer Sunderji, characterized what has been an active 2011 for the Group.

"It has been a truly exceptional year for the Capital Markets in the Bahamas," he said. "Although the overall economy is still recovering, the total capital raised by Royal Fidelity demonstrates the desire of Bahamians to continue to invest during turbulent times."

For more information on Royal Fidelity please visit the website at www.royalfidelity.com.