Counsel to Banco do Brasil – US$500 million unsecured A/B loan

Acted as Cayman Islands counsel to Banco do Brasil in the US$500 million unsecured A/B loan by the Inter-American Investment Corporation for the financing of enterprises engaged in Brazil’s agribusiness sector. This loan constitutes the first commercial financing in which Banco do Brasil has worked with a multilateral institution such as IIC.

‘Offshore’ begins at the White Cliffs of Dover

From Anthony Travers, chairman, Cayman Islands Stock Exchange

Sir, Further to your report “Queen’s estate sinks millions offshore, say leaked papers” (November 6): unfortunately, the debate about offshore financial centres has been entirely mischaracterised and misrepresented by a very small group of extreme leftwing campaigners. Offshore begins at the White Cliffs of Dover. If what is being suggested by the BBC and Guardian is that it is improper to make investments outside the UK, then there would need to be very significant change to the UK legislation. As it stands, UK residents including Her Majesty the Queen are entitled to invest in any offshore jurisdiction in the world and UK tax law provides for taxation in relation to those investments. The Overseas Territories and the Crown Dependencies now lead the world in transparency for financial centres onshore and offshore.

Anthony Travers Chairman, Cayman Islands Stock Exchange

Link to FT Article

RiverCrossing launch its Cayman Islands investment vehicle

Travers Thorp Alberga acted for RiverCrossing in connection with the launch of its Cayman Islands investment vehicle, Retail Centres Germany Investment Company Limited which in partnership with Greenman Investments a leading retail property manager invests in German retail property . RiverCrossing is dedicated to providing Islamically-compliant real estate investment opportunities to investors in the GCC.

Much Ado About Nothing (Significant) – ESMA and the Cayman Islands AIFMD Passport

Recent commentaries by various offshore law firms on the delay by ESMA in extending the pan European passport for marketing the securities of Cayman Islands domiciled funds throughout the EU under the Alternative Investment Fund Managers’ Directive (“the Directive”) may have over emphasized the importance of the ESMA approval.

Download PDF

Listing Loan Notes and PIK Notes on the Cayman Islands Stock Exchange

Over recent years we have seen increasing numbers of listings of corporate and sovereign debt securities on the Cayman Islands Stock Exchange (the “CSX”), in particular loan notes and payment in kind (PIK) notes issued in connection with private equity and venture capital (“PE and VC”) investments. Over the last 18 months Travers Thorp Alberga have acted for the issuer on a number of new PE and VC note listings.

Download PDF