Category Archives: PR News

Daily regional news summary from Cuba!: The source for the latest news throughout Cuba and Caribbean.

Grupo Aeroportuario del Pacifico Will Operate the Norman Manley Airport in 2019

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KINGSTON, Jamaica, Oct. 10, 2018 /PRNewswire-HISPANIC PR WIRE/ — The most honorable Andrew Holness, Prime Minister of Jamaica hosted the Norman Manley International Airport Public-Private Partnership Execution of the Concession Agreement to Grupo Aeroportuario del Pacifico (GAP).

The Jamaican authorities, including the Prime Minister, Andrew Holness; during the execution of the concession agreement with the GAP's CEO, Raul Revuelta Musalem

GAP is a Mexican corporation that operates thirteen international airports in large metropolitan areas, industrial centers, and world-class leisure destinations of Mexico and Jamaica. In the last 18 years, the Group has invested over $1.2 billion US Dollars in the airports, positioning itself as one of the fastest growing airport groups of its size in the world. During 2017, the airports of the Group managed 40.7 million of passengers.

In April 2015, Grupo Aeroportuario del Pacifico assumed operational control of Sangster International Airport in Montego Bay, investing over 191 million US Dollars to acquire a 74.5% stake in this airport. This was the largest investment of the Group outside Mexico.

GAP has developed a culture committed to customer service. One of the main objectives of the Group once it takes control of the operations of the Norman Manley International Airport next year, will be to improve the infrastructure and equipment to fulfill passengers’ needs.

Grupo Aeroportuario del Pacifico, manages airports based on establishing strong partnerships with the airport owner, the passengers, the airlines, business developers, members in the air transportation industry and notably, with the local authorities.

“We will collaborate with the government of Jamaica in identifying tourism development opportunities and possible investors from Mexico; as well as explore potential growth for new resorts, tourism facilities and time-share business in parts of the country where the connectivity provided by the airport could be a catalyst”, mentioned Raul Revuelta, Chief Executive Officer of the Group during the ceremony in which participated Hon. Robert Montague, Minister of Transport & Mining.

Grupo Aeroportuario del Pacifico, S.A.B. de C.V. (GAP) is a Mexican company that operates 13 international airports in the Pacific and Central Regions of Mexico and in the Caribbean:

  • Guadalajara and Tijuana, serving the main metropolitan areas.
  • Mexicali, Hermosillo, Los Mochis, Aguascalientes, Guanajuato and Morelia, serving mid-sized and developing cities.
  • La Paz, Los Cabos, Puerto Vallarta, Manzanillo and Montego Bay, serving some of the leading tourist destinations.

In Mexico, the airports are owned by the Mexican government and were assigned 50-year concessions as part of a national initiative to privatize and improve the quality and safety of the country’s airport services. In the last 18 years, GAP has invested over $1.2 billion USD in the airports. During 2017, the airports of the Group managed 40.7 million passengers.

In April 2015, GAP assumed operational control of the Sangster International Airport in Montego Bay.

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Parkland Fuel Corporation to Acquire 75% of SOL, the Largest Independent Fuel Marketer in the Caribbean

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Transformational Business Combination Establishes Strong International Growth Platform; SOL’s Simpson Group to Own 9.9% of Parkland

CaribPR Wire, CALGARY, Alberta, Oct. 10, 2018: Parkland Fuel Corporation (“Parkland”, “We”, “Our” or “Us”), (TSX:PKI) Canada’s largest and one of North America’s fastest growing independent marketers of fuel and petroleum products and a leading convenience store operator, and SOL Limited have entered into an agreement to complete a business combination (the “Business Combination” or “Transaction”) between Parkland and SOL Investments Limited (“SIL”) and its subsidiaries (collectively, “SOL”).  A privately-held company owned by the Simpson Group, SOL is the largest independent fuel marketer in the Caribbean and a wholly-owned subsidiary of SOL Limited.

SOL supplies and markets a total of 4.8 billion liters of fuel volume annually across 23 countries in the Caribbean and generated US$215 million (approximately C$280 millioni) in adjusted earnings before taxes, depreciation and amortization (“Adjusted EBITDA”) in the 12-month period ending June 2018.

The Transaction will result in Parkland acquiring 75% of the issued and outstanding shares in the capital of SIL (the “SIL Shares”) for total consideration of US$1.21 billion (approximately C$1.57 billion) plus customary post-closing adjustments on a cash-free and debt-free basis (the “Purchase Price”), and SOL Limited acquiring 12.16 million common shares in the capital of Parkland (the “Parkland Shares”).  This equates to a purchase price multiple on the 75% equity interest in SOL of approximately 7.5x Adjusted EBITDA, excluding working capital. Upon closing the Simpson Group, through its ownership in SOL Limited, will own approximately 9.9% of the issued and outstanding shares in Parkland and its intention is to remain a long-term investor in Parkland. The Transaction is expected to be immediately accretive to Parkland’s distributable cash flow per share by approximately 17% (pre-synergies).

The remaining 25% of the shares outstanding in SIL are subject to the Minority Purchase/Sale Right (as defined below) pursuant to which Parkland may elect to acquire or SOL Limited may elect to sell the remaining shares in the capital of SIL. Based on SOL’s Adjusted EBITDA for the 12-month period ending June 2018, the Adjusted EBITDA attributable to Parkland from the 75% ownership stake in SOL would have been US$161 million (approximately C$210 million), representing 75% of SOL’s Adjusted EBITDA for the period.

Parkland President and CEO Bob Espey said, “The addition of SOL will extend our global supply reach and enable us to continue to build our supply advantage to benefit our entire business. With its integrated supply chain backed by an extensive distribution network, fortress assets, a premier brand portfolio and an exceptional team, SOL has built a strong market position with unparalleled regional scale.  Together, Parkland and SOL create a significant North American and Caribbean growth platform. We are delighted to partner with the Simpson Group and welcome the opportunity to work with SOL’s strong management team to optimize and grow SOL’s industry leading retail and supply network through our combined scale and expertise.”

Sir Kyffin Simpson, CBE, Founder of SOL Limited said, “I am exceptionally pleased to announce the coming together (Business Combination) of Parkland and SOL, which will ensure an exciting and dynamic future for everyone.  With a desire to continue to develop and grow the business through expansion in new areas, I am extremely blessed to bring in our good friends Parkland of Canada to the Caribbean.  I have long admired Parkland as a company with their futuristic vision and energy, and I have been tremendously impressed with Bob Espey’s strong leadership along with his exceptional management team.”

“I am truly confident that this coming together with the fantastic team at SOL will be a complementary blend of cultures, ideas, technology and innovation.  I am convinced that Parkland and SOL are perfectly matched to develop new and exciting opportunities, with renewed energy that will provide excellent avenues for the development of our people that will in turn enhance our customer experience and open new doors for great synergies and improved logistics.  With forty-three million people and a GDP of more than US$200 billion, this is the perfect time to take advantage of the tremendous opportunities that abound in the Caribbean.”

“This coming together will also provide a big boost of confidence for regional investment opportunities and we are happy to do our part in this regard.  Please therefore join with me in welcoming this wonderful team and organization to the region.   I pray God’s richest blessings on this coming together and I look forward to what the future has in store for us all.”

Chief Financial Officer Mike McMillan said, “The scale of the pro-forma business combined with the strong cash flow from operations and operational synergies expected from SOL will further strengthen Parkland’s balance sheet and capital structure.  The financing for the Transaction will enable Parkland’s pro forma total leverage ratio to remain below 3.5x.  In addition, Parkland will be in a strong position from a balance sheet and capital structure perspective to continue to execute on our growth strategies.”

Key Highlights

  • The addition of stable earnings from 526 retail stations (266 company-owned or company-leased sites and 260 dealer owned and operated sites);
  • Provides an opportunity to roll out Parkland’s private label, loyalty and enhanced food offer;
  • Positions Parkland to access supply at scale in the US Gulf Coast, creating future growth opportunities and supply advantage in the US Gulf and Atlantic coasts for Parkland USA (in addition to our continued focus on the US Northern Tier and Rocky Mountain regions);
  • Total identified annual run-rate synergies of approximately 20% of SOL’s Adjusted EBITDA over the next three years;
  • Pro forma net debt to Parkland Adjusted EBITDA of approximately 3.2x on a consolidated basis with a strong deleveraging profile; and
  • The SOL operating brands will remain in place, and the SOL business will retain key management and continue to be managed from the Caribbean.

Parkland and SOL Limited, the sole shareholder of SIL, will enter into a shareholders agreement that grants a call right for Parkland and put right for SOL Limited (collectively, the “Minority Purchase/Sale Right”), pursuant to which Parkland may elect to acquire or SOL Limited may elect to sell the remaining 25% portion of the issued and outstanding shares in the capital of SOL (the “Remaining Shares”) at a value of 8.5x the Adjusted EBITDA of SOL based on the then current audited financial statements.  The Minority Purchase/Sale Right will be exercisable by either party for a period of 90 days following the release by Parkland of its audited financial statements for the fiscal year ended December 31, 2020 (or December 31, 2021 in the event that closing does not occur on or before December 31, 2018).  The Minority Purchase/Sale Right will be exercisable annually thereafter by either party for a period of 90 days following the release by Parkland of its audited annual financial statements.

The Transaction is subject to the receipt of customary third-party consents and regulatory approvals, including approval of the Toronto Stock Exchange.  Closing of the Transaction is expected to occur in late Q4 2018.

Strategic Rationale

  • Through strategic acquisitions and organic growth, SOL has built ‘fortress assets’ in stable markets across the region;
  • SOL is the largest independent fuel marketer and convenience store operator in the Caribbean region, with more than 4.8 billion liters of annual volume and approximately US$215 million (approximately C$280 million) in estimated Adjusted EBITDA (excluding expected synergies);
  • Provides comprehensive and key infrastructure in the Caribbean region to extend and enhance Parkland’s supply advantage and expertise;
  • Adds significant scale to Parkland’s retail and supply businesses;
  • Provides increased exposure to stable earnings across multiple lines of business;
  • Provides diversification from the North American market;
  • Significantly contributes to Parkland’s US dollar cash flows;
  • Positions Parkland to access supply at scale in the US Gulf Coast, creating future growth opportunities and supply advantage in the US Gulf and Atlantic coasts for Parkland USA;
  • Supports acquisition and expansion opportunities in the Caribbean region and broader Americas; and
  • Opens Parkland’s business to global supply advantages to benefit existing and future business opportunities.

SOL Retail Business

  • Represents approximately 2.0 billion liters of annual volume with operations in 20 countries;
  • Includes 526 retail stations (266 company owned or company leased sites and 260 dealer owned and operated sites); and
  • Operates 197 Shell-branded retail stations and 163 ESSO-branded retail stations and enjoys a long-standing relationship with both premier retail brands in the Caribbean.  SIL also operates 93 SOL-branded stations, which enjoy excellent recognition in the Caribbean.

SOL Supply and Distribution Business

  • SOL’s infrastructure assets include 32 import terminals, 7 pipelines, 3 marine berths and 10 charter ships;
  • Enables SOL to achieve superior supply economics in the Caribbean region as it is the largest fuels marketer with an integrated supply chain;
  • Primary objective is to supply the SOL marketing business and any spare capacity is sold to third parties;
  • Chartered vessel fleet provides SOL with inter-island transportation and distribution capabilities;
  • Owned and leased terminals enable intermediate storage for large fuel cargoes across the region;
  • Geographically close to US Gulf Coast supply, one of the longest refined product markets in the world;
  • Ownership of 29% non-operating financial stake in the entity that owns and operates the SARA Refinery located in Fort-de-France, Martinique (the “SARA Refinery”).  The capacity of the SARA Refinery is 16,000 thousand barrels per day; and
  • SARA Refinery owns and operates all the pipelines, ships and terminals required to supply refined products to Guadeloupe, French Guiana and Martinique.

SOL Commercial and Industrial Business

  • Represents approximately 1.8 billion liters of annual volume with operations in 21 countries;
  • Supplies gasoline, diesel, fuel oil, LPG (propane) and other petroleum products to commercial and industrial customers in the mining, power generation, manufacturing, construction, transport and hospitality industries;
  • Lubricants segment represents 21 million liters of annual volume and operations in 18 countries;
  • Distributes Shell and Pennzoil-branded lubricants and is the largest licensed distributor of Shell-branded lubricants in the Caribbean;
  • LPG (propane) segment represents 47 million liters of annual volume and operations in 10 countries;
  • Distributes LPG (propane) direct to customers under the highly recognizable SOL Energy brand; and
  • Distributes LPG (propane) to other distributors and governments under various supply agreements.

SOL Aviation Business

  • Represents approximately 600 million liters of annual volume with operations in 13 countries;
  • Operates in most countries through joint ventures with various third parties.  Joint ventures are structured to enable maximum utilization of high cost fixed assets; and
  • Jointly owns airport terminals and infrastructure in several markets.

Parkland Financing

The Transaction and related fees and expenses will be financed by Parkland with a fully underwritten financing package:

  • Debt financing of approximately C$1.1B underwritten by Canadian Imperial Bank of Commerce and National Bank of Canada as Co-Lead Arrangers and Bookrunners consisting of:
    • C$470 million of senior secured bank debt, a US$250 million (approximately C$325M million) term loan and a term facility of C$300 million.
  • SOL Limited will provide approximately C$518 million of equity financing through its investment in Parkland:
    • Parkland will issue 12.16 million Parkland shares to SOL Limited from treasury as partial consideration for the Business Combination at a price of approximately C$42.62 per share, representing the 5-day volume-weighted average price of Parkland’s common shares on the Toronto Stock Exchange as of market close on October 9, 2018.  After closing, SOL Limited will own approximately 9.9% of the issued and outstanding common shares in Parkland.

Parkland expects to replace the term facility with alternative longer-term debt prior to the closing of the Transaction.

Investor Event and Conference Call Information

Parkland will host a webcast and conference call at 6:30 AM MT (8:30 AM ET) on October 10, 2018 to discuss the Transaction.  Parkland’s Senior Leadership Team will be available to take questions from securities analysts and investors following their formal comments.

Please log into the webcast slide presentation 10 minutes prior to start time at:

Webcast: https://edge.media-server.com/m6/p/gxyt5yny

To access the conference call by telephone, dial toll-free (844) 889-7784.  International callers should use (661) 378-9928, Conference ID: 1558797.  Please connect approximately 10 minutes before the beginning of the call. The webcast will be available for replay one hour after the conference call ends. It will remain available at the link above for one year and will be posted to www.parkland.ca.

A link to the live webcast and investor presentation will be available on the Investors section of Parkland’s website at  http://www.parkland.ca/investors/.

If you are unable to participate in the call, a replay will be available by dialing (855) 859-2056, Conference ID: 1558797 (Canada and USA toll-free). For international callers, please dial (404) 537-3406, Conference ID: 1558797.  A transcript of the broadcast will be posted on the website once it becomes available.

About Parkland

Parkland is Canada’s largest and one of North America’s fastest growing independent suppliers and marketers of fuel and petroleum products and a leading convenience store operator.  Parkland services customers through three channels: Retail, Commercial and Wholesale.  Parkland optimizes its fuel supply across these three channels by operating the Parkland Burnaby Refinery, and leveraging a growing portfolio of supply relationships and storage infrastructure.  Parkland provides trusted and locally relevant fuel brands and convenience store offerings, including its On the Run/Marché Express banners, in the communities it serves.

Parkland creates value for shareholders by focusing on its proven strategy of growing organically, realizing a supply advantage and acquiring prudently and integrating successfully.  At the core of our strategy are our people, as well as our values of safety, integrity, community and respect, which are embraced across our organization.

About SOL

By providing fuels, lubricants, LPG products and an extensive network of service stations, SOL enables the energy that keeps the heart of our region beating. SOL is the largest independent petroleum marketing company in the Caribbean region and is committed to supporting and empowering the communities in which it operates.

With operations spanning across twenty-three territories, SOL’s highly qualified team reflects the talent, spirit and diversity of the region. SOL serves a wide range of commercial customers who are involved in shipping, luxury boating, aviation, mining, trucking and fleet operations, as well as families and individuals – hard working men and women who need a reliable partner to fuel their vehicles, homes and lives.

Advisors

Deloitte provided transaction services in respect of the Business Combination.

National Bank Financial Inc. served as financial advisor to Parkland.

Forward-Looking Statements

Certain statements contained in this news release constitute forward-looking information and statements (”collectively, “forward-looking statements”). Many of these forward-looking statements can be identified by words such as “believe”, “expects”, “expected”, “will”, “intends”, “projects”, “projected”, “anticipates”, “estimates”, “continues”, “objective” or similar expressions and include, but are not limited to, statements regarding Parkland’s expectation of its future financial position, business and growth strategies and objectives, sources of growth, capital expenditures, financial results, future financing and the terms thereof, future transactions and the efficiencies to be derived therefrom, the successful completion of the Transaction and the timing thereof, the accretive impact of the Transaction (including the expected impact to Parkland’s distributable cash flow per share), the expected benefits resulting from the Transaction including Parkland’s leverage pro forma following the Transaction, Adjusted EBITDA of the business acquired in the Transaction, the Simpson Group’s intentions with respect to its ownership of Parkland, future projections of Adjusted EBITDA, the contribution to EBITDA and/or Adjusted EBITDA from the Transaction, volumes and gross margins expected to be derived from the Transaction, expected synergies and growth opportunities (including geographic areas of potential growth) resulting from the Transaction, the number of Parkland Shares to be issued as partial consideration for the Transaction, expected exercise of the Minority Purchase/Sale Right and the terms thereof, sources of financing for the Transaction, the ability of Parkland to refinance indebtedness under its term facility, Parkland’s expected pro forma total leverage, strength of Parkland’s balance sheet and capital structure pro forma the Transaction and Parkland’s continued ability to execute on its growth strategies. Parkland believes the expectations reflected in such forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon. The forward-looking statements contained herein are based upon certain assumptions and factors including, without limitation: historical trends, current and future economic and financial conditions, and expected future developments. Parkland believes such assumptions and factors are reasonably accurate at the time of preparing this press release. However, forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties some of which are described in Parkland’s Annual Information Form dated March 9, 2018 (”AIF”) and other continuous disclosure documents. Such forward-looking statements necessarily involve known and unknown risks and uncertainties and other factors, which may cause Parkland’s actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. Such factors include, but are not limited to, risks associated with: the failure to achieve the anticipated benefits of the Transaction, the aggregate amount of any adjustments to the Purchase Price, the ability to secure funding to finance the consideration payable upon the exercise of the Minority Purchase/Sale Right, expansion of Parkland’s business into the Caribbean, the ability of suppliers to meet commitments, failure to retain key management, failure to execute on plans to deleverage the combined Parkland business, failure to obtain necessary regulatory or other third party consents and approvals required to complete the Transaction, failure to complete the Transaction, failure to secure alternative sources of funding to the term facility on terms acceptable to Parkland, failure to meet financial, operational and strategic objectives and plans, general economic, market and business conditions, industry capacity, failure to realize anticipated synergies from the Transaction, the operations of Parkland’s assets, competitive action by other companies, actions by governmental authorities and other regulators including increases in taxes, changes and developments in environmental and other regulations, and other factors, many of which are beyond the control of Parkland. There is a specific risk that Parkland may be unable to complete the Transaction in the manner described in this press release or at all. If Parkland is unable to complete the Transaction, there could be a material adverse impact on Parkland and on the value of its securities. Any forward-looking statements are made as of the date hereof and Parkland does not undertake any obligation, except as required under applicable law, to publicly update or revise such statements to reflect new information, subsequent or otherwise. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement. Readers are directed to, and are encouraged to read the risks and uncertainties described in “Forward-Looking Statements” and “Risk Factors” included in Parkland’s AIF and in “Forward-Looking Statements” and “Risk Factors” included in Parkland’s management discussion and analysis for the year ended December 31, 2017 (the “MD&A”) and for the three and six months ended June 30, 2018 (the “Q2 2018 MD&A”), as such information is incorporated by reference herein, each as filed on SEDAR at www.sedar.com and available on the Parkland website at www.parkland.ca.

Non-GAAP Financial Measures

This press release refers to certain financial measures that are not determined in accordance with International Financial Reporting Standards (“IFRS”). Net debt to Adjusted EBITDA and distributable cash flow per share are not measures recognized under IFRS and do not have standardized meanings prescribed by IFRS.  Other issuers may calculate these non-GAAP measures differently.  Parkland considers these to be important supplemental measures of Parkland’s performance and believes these measures are frequently used by securities analysts, investors and other interested parties in the evaluation of companies in its industries.

In reference to Parkland’s Adjusted EBITDA, Adjusted EBITDA is a measure of segment profit and is considered to be forward-looking information in this document. See Section 12 of the Q2 2018 MD&A and Note 14 of the Interim Condensed Consolidated Financial Statements for a reconciliation of this measure of segment profit.

In reference to SOL’s Adjusted EBITDA, Adjusted EBITDA refers to the agreed-upon normalized earnings before income taxes, depreciation and amortization of SOL for the purposes of this Transaction, is considered to be forward-looking information in this document, and does not represent Parkland’s definition of Adjusted EBITDA.

Investors are encouraged to evaluate each adjustment and the reasons Parkland considers it appropriate for supplemental analysis.  Readers are cautioned, however, that these measures should not be construed as an alternative to net income determined in accordance with IFRS as an indication of performance. The financial measures that are not determined in accordance with IFRS in this press release are expressly qualified by this cautionary statement. Parkland believes these financial measures based are on such information that is reasonable but no assurance can be given that these expectations will prove to be correct and such figures should not be unduly relied upon.

To sign up for Parkland news alerts, please go to https://goo.gl/mNY2zj or visit www.parkland.ca.

___________________________

i All figures converted between USD and CAD using an exchange rate of US$1.0 = C$1.3

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Sunwing Travel Group and Rex Resorts announce strategic alliance

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CaribPR Wire, TORONTO, Oct. 02, 2018: Sunwing Travel Group announced today that the Group’s hotel division would begin operating six of Rex Resorts’ Caribbean hotels as part of a newly formed strategic alliance, effective December 01, 2018. As part of this landmark agreement, Sunwing’s growing hotel division plans to make significant improvements to each of the resorts over the coming years.

“We are excited to be entering into this partnership which reflects our commitment to the CARICOM countries of the Lesser Antilles.” said Stephen Hunter, President & CEO of Sunwing Travel Group. He added, “We look forward to increasing tourism in Grenada, Tobago and Barbados as we have recently done in St. Lucia and Antigua.”

Alison Palin of Rex Resorts also welcomed the news, “This strategic alliance will enable us to rejuvenate and further enhance these popular resorts which are all situated in prime beach locations. Leveraging Sunwing’s distribution and scale will allow us to boost our occupancy and tighten our operational costs and ultimately position these properties to provide even more value to our guests. We look forward to the continued support of our valued employees, local suppliers and tour operators as we finalize this exciting and transformational agreement.”

The six Rex Resorts will be absorbed within two of the hotel division’s brands: the new luxury boutique hotel collection, Mystique Resorts and the popular mid-market chain, Starfish Resorts. Mystique Royal St. Lucia will be the second addition to the Mystique Resorts brand, with the first opening later this month in Holbox, Mexico. The Starfish Resorts brand will see five new additions: Starfish Discovery Bay Resort, Barbados; Starfish Halcyon Cove Resort, Antigua; Starfish St. Lucia Resort, St. Lucia; Starfish Grenada Resort, Grenada and Starfish Tobago Resort, Tobago.

For the latest news and more information, visit www.sunwingtravelgroup.com

About Sunwing Travel Group

The largest integrated travel company in North America, Sunwing Travel Group is comprised of two leading leisure tour operators, Sunwing Vacations and Vacation Express; Sunwing Airlines, Canada’s premier leisure airline; SunwingJets, a luxury private jet charter service; together with the Group’s own travel retail businesses, SellOffVacations.com and Luxe Destination Weddings. Blue Diamond Resorts is the Group’s hotel division, an innovative organization that operates popular resort brands including Planet Hollywood Hotels & Resorts, Royalton Luxury Resorts, CHIC by Royalton Luxury Resorts, Memories Resorts & Spa, Starfish Resorts and Mystique Resorts across the Caribbean and Mexico; while NexusTours is a full-service destination management company offering affordably priced and reliable ground transportation, popular tours and excursions, as well as other travel management services.

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Phoenix Tower International Closes $485mn Term Loan Facility to Finance Further International Growth

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BOCA RATON, Florida, Oct. 1, 2018 /PRNewswire-HISPANIC PR WIRE/ – Phoenix Tower International (PTI), a leading wireless communications infrastructure provider, announces it has closed a US$485mn senior secured term loan facility to continue its international expansion.

Phoenix Tower International - LOGO

PTI successfully upsized and extended its existing credit facility and strengthened the composition of its syndicate group highlighting the company’s continuing success. The transaction consists of US$290mn senior secured 5-year term loan and US$195mn delayed draw which will allow PTI to continue expanding internationally.

The credit facility was led by Scotiabank, with Goldman Sachs, Deutsche Bank, Santander, ING Capital, Natixis, Banco General, Orix Capital, and Towerbank participating and is the first Pan-Latin America facility of its kind secured by infrastructure assets. The credit facility provides financing on PTI’s existing wireless infrastructure, new tower development and acquisitions across PTI’s existing Latin America markets as well as many additional Latin America markets including Belize, Chile, Costa Rica Colombia, Dominican Republic, El Salvador, the French West Indies, Guatemala, Guyana, Honduras, Jamaica, Mexico, Panama, Peru, Suriname, Uruguay, Argentina, Bolivia, Ecuador, Nicaragua and Paraguay.

“With this financing, PTI has full flexibility to continue to grow the business across Latin America with available debt financing at our disposal.  This will allow us to deliver for our customers, sellers and business partners in an expedited manner with a syndicated lender group comprised of long term relationships that PTI has had since inception as well as new relationships that will help PTI take the business to the next level in the years to come.  We are incredibly excited to close this loan with Scotiabank and the entire lender group,” said Dagan Kasavana, Chief Executive Officer of PTI.

PTI was represented by Locke Lord. Scotiabank and the Lender Group were represented by White & Case. Terms of the transaction remain confidential between the parties.

About Phoenix Tower International:

Founded in 2013, Phoenix Tower International (”PTI”) owns and manages over 6,000 towers, 974 km of fiber and other wireless infrastructure and related sites throughout Costa Rica, Panama, El Salvador, Colombia, Peru, Mexico, the Dominican Republic, French West Indies, Jamaica, and the United States, including Puerto Rico and the US Virgin Islands.

PTI’s investors include funds managed by Blackstone Tactical Opportunities and John Hancock, as well as various members of the management team. For more information, please visit www.phoenixintnl.com.

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This Organization Has A Unique Voter Education Message This National Voter Registration Day

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4CaribPR Wire, NEW YORK, NY, Tues. Sept. 25, 2018: With 42 days until the November 6, 2018 mid-term election in the U.S. from today, September 25, 2018, one organization is taking a unique voter education message to its growing foreign-born immigrant voting bloc this National Voter Registration Day.

CaribPR Wire, the PR newswire of the Caribbean and partner of the PR Newswire, is tapping into the carnival and party culture of the burgeoning Caribbean immigrant population in the US by leading a carnival-themed voter promotion campaign to urge Caribbean immigrants and Caribbean Americans who are eligible to vote, to ensure they do.

The promotion is the brain-child of CaribPR Wire founder, Felicia J. Persaud, to stimulate and drum-up voter turn-out among Caribbean immigrant voters in the U.S. this November. According to the recent U.S. Census’s American Community Survey, the Caribbean immigrant population in the US has grown by a projected 600,000 in recent years to surpass a conservative estimate of 3 million nationally.

The creative social media targeted advertising campaign includes 9 Caribbean-centric messages as: “Lime, Wine, Vote” “Vote Or Your Lime Is History” and “Jam Up The Polls This Nov. 6th.” There are also culturally specific messages including: “Jab Jab To The Polls This Nov. 6th,” “Hot Gyal A Vote,” “Dutty Wine To The Polls This Nov. 6th” and “Ride De Riddim and Vote This Nov. 6th.” There is also a unique message for Haitian voters.

“This is the most critical election of our life-time as immigrants in this country, especially given the anti-immigrant policies being put in place by this administration,” said the Guyana-born, U.S. citizen and media entrepreneur. “Those of us who have earned the hard-fought right to vote need to use it on D-Day, Nov. 6th, or we may lose it forever and be shocked to find ourselves sucking salt back in the islands and nations we came from.”

The campaign was conceptualized and created by award-winning digital media company, Hard Beat Communications and is aimed at keeping the beat of carnival going into the polls this November 6th.

The messages can accessed on CaribPR’s Facebook page here.

MEDIA CONTACT:

Kathy Bronson

kbronson@hardbeatcommunications.com

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Bombardier CRJ Series Certified for Higher Maintenance Intervals

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CaribPR Wire, MONTREAL, Sept. 24, 2018: Bombardier Commercial Aircraft announced today that the Federal Aviation Agency (FAA) has granted approval for the maintenance intervals escalation of the CRJ700, CRJ900 and CRJ1000 aircraft. The line maintenance interval (A-check) is extended to 800 flight hours, and the heavy maintenance interval (C-check) at 8,000 flight hours.

“With the longest maintenance intervals on the regional jet market, the CRJ aircraft family continues to deliver more value to operators, along with its excellent reliability and its proven outstanding operational capability”, said Charles Comtois, Head of CRJ Series Program, Bombardier Commercial Aircraft. “We are thrilled that our operators are benefitting from our continuous improvement mindset as with this evolution, the CRJ Series operators can now take advantage of 14 per cent less maintenance days, meaning more days of revenue flying.”

The maintenance intervals have doubled since the launch of the CRJ aircraft family. The new maintenance intervals are applicable for new production deliveries as well as all CRJ700, CRJ900, and CRJ1000 aircraft in service.

About Bombardier
With over 69,500 employees across four business segments, Bombardier is a global leader in the transportation industry, creating innovative and game-changing planes and trains. Our products and services provide world-class transportation experiences that set new standards in passenger comfort, energy efficiency, reliability and safety.

Headquartered in Montreal, Canada, Bombardier has production and engineering sites in 28 countries across the segments of Transportation, Business Aircraft, Commercial Aircraft and Aerostructures and Engineering Services. Bombardier shares are traded on the Toronto Stock Exchange (BBD). In the fiscal year ended December 31, 2017, Bombardier posted revenues of $16.2 billion. News and information are available at bombardier.com or follow us on Twitter @Bombardier.

Notes to Editors
An image of a CRJ900 aircraft in the Bombardier livery is posted with this news release at bombardier.com

The CRJ Series aircraft backgrounder is available in the BCA Media Hub.

Follow @BBD_Aircraft on Twitter to receive the latest news and updates from Bombardier Commercial Aircraft.

To receive our press releases, please visit the RSS Feed section of Bombardier’s Website.

Bombardier, CRJ700, CRJ900, CRJ1000 and CRJ Series are trademarks of Bombardier Inc. or its subsidiaries.

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Bombardier Delivers First 90-seat Q400 Aircraft to SpiceJet

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  • SpiceJet becomes the first airline to take advantage of the Q400 aircraft’s increased profit potential

CaribPR Wire, TORONTO, Sept. 21, 2018: Bombardier Commercial Aircraft today announced the delivery of its first 90-seat Q400 aircraft. The aircraft was handed over to India’s SpiceJet Limited (“SpiceJet”) the launch operator for the extra-capacity, 90-seat aircraft.

“We are excited to induct the 90-seat Q400 aircraft into our fleet,” said Ajay Singh, Chairman and Managing Director, SpiceJet. “The additional seats and performance improvements will result in substantial reduction in unit costs and also we will enable us to address our market needs in the regional space.”

“The delivery of the first 90-seat Q400 aircraft showcases the commitment of Bombardier’s Q Series turboprop program to respond to customer requirements as they address traffic growth in regional markets,” said Todd Young, Head of the Q Series Aircraft Program, Bombardier Commercial Aircraft.
“I thank and congratulate the employees and suppliers who have worked tirelessly to deliver this most recent enhancement to the Q400 aircraft, and I also thank our customer, SpiceJet for its strong support and collaboration in this continuous improvement program.”

“This is a very important milestone for the Q400 aircraft program because the 90-seat option demonstrates the increased profitability potential that this unique turboprop has to offer,” said
Colin Bole, Senior Vice President, Commercial, Bombardier Commercial Aircraft. “The increased passenger capacity allows 15 per cent reduction of seat cost compared to the previous standard Q400 aircraft and provides an enormous benefit for airlines. We are thrilled that SpiceJet will be the first operator to showcase the unique capabilities and unbeatable productivity of our turboprops.”

About SpiceJet Ltd
SpiceJet is India’s favourite airline that has made flying affordable for more Indians than ever before. SpiceJet operates 412 average daily flights to 54 destinations, including 47 domestic and 7 international ones. The airline connects its network with a fleet of 36 Boeing 737NG and 22 Bombardier Q400 aircraft. The majority of the airline’s fleet offers SpiceMax, the most spacious economy class seating in India.

SpiceJet also operates a dedicated air cargo service under the brand name SpiceXpress offering safe, on-time, efficient and seamless cargo connectivity across India and on international routes. SpiceJet is the first Indian airline to offer end-to-end cargo services and the airline’s freighters fleet consist of Boeing 737 aircraft.

SpiceJet’s standing as the country’s favourite airline has been further reinforced by the multiple awards and recognitions which includes the US-India Strategic Partnership Forum Leadership Award to Ajay Singh, , Global ‘Low-Cost Leadership Award’ conferred to Mr Singh at the Airline Strategy Awards 2018 in London, ‘BML Munjal Awards 2018’ for ‘Business Excellence through Learning and Development’, ‘Best Domestic Airline’ Award at Wings India 2018, ‘EY Entrepreneur of the year 2017 for Business Transformation’ by Ernst & Young, The CAPA Chairman’s Order of Merit for fastest turnaround in FY 2016, ‘Asia’s Greatest Brands – 2016′, ‘Global Asian of the Year Award’  & ‘Asia’s  Greatest CFO 2016′ at the AsiaOne Awards held in Singapore, ‘World Travel Leaders Award’ at WTM London, ‘Best Check- in Initiative’ award by Future Travel Experience global awards in Las Vegas, ‘Best Domestic Airline’ award at the 10th ASSOCHAM International Conference & Awards (Civil Aviation & Tourism).

About Bombardier
With over 69,500 employees across four business segments, Bombardier is a global leader in the transportation industry, creating innovative and game-changing planes and trains. Our products and services provide world-class transportation experiences that set new standards in passenger comfort, energy efficiency, reliability and safety.

Headquartered in Montreal, Canada, Bombardier has production and engineering sites in 28 countries across the segments of Transportation, Business Aircraft, Commercial Aircraft and Aerostructures and Engineering Services. Bombardier shares are traded on the Toronto Stock Exchange (BBD). In the fiscal year ended December 31, 2017, Bombardier posted revenues of $16.2 billion US. News and information are available at bombardier.com or follow us on Twitter @Bombardier.

Notes to Editors
Images of Q400 aircraft in the livery of SpiceJet are posted with this news release at www.bombardier.com.

The Q400 aircraft backgrounder is available in the BCA Media Hub

For information about SpiceJet, visit: www.spicejet.com

Follow @BBD_Aircraft on Twitter to receive the latest news and updates from Bombardier Commercial Aircraft.

To receive our press releases, please visit the RSS Feed section of Bombardier’s Website.

Bombardier, Q400 and Q Series are trademarks of Bombardier Inc. or its subsidiaries.

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Bombardier Delivers First 90-seat Q400 Aircraft to SpiceJet

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  • SpiceJet becomes the first airline to take advantage of the Q400 aircraft’s increased profit potential

CaribPR Wire, TORONTO, Sept. 21, 2018: Bombardier Commercial Aircraft today announced the delivery of its first 90-seat Q400 aircraft. The aircraft was handed over to India’s SpiceJet Limited (“SpiceJet”) the launch operator for the extra-capacity, 90-seat aircraft.

“We are excited to induct the 90-seat Q400 aircraft into our fleet,” said Ajay Singh, Chairman and Managing Director, SpiceJet. “The additional seats and performance improvements will result in substantial reduction in unit costs and also we will enable us to address our market needs in the regional space.”

“The delivery of the first 90-seat Q400 aircraft showcases the commitment of Bombardier’s Q Series turboprop program to respond to customer requirements as they address traffic growth in regional markets,” said Todd Young, Head of the Q Series Aircraft Program, Bombardier Commercial Aircraft.
“I thank and congratulate the employees and suppliers who have worked tirelessly to deliver this most recent enhancement to the Q400 aircraft, and I also thank our customer, SpiceJet for its strong support and collaboration in this continuous improvement program.”

“This is a very important milestone for the Q400 aircraft program because the 90-seat option demonstrates the increased profitability potential that this unique turboprop has to offer,” said
Colin Bole, Senior Vice President, Commercial, Bombardier Commercial Aircraft. “The increased passenger capacity allows 15 per cent reduction of seat cost compared to the previous standard Q400 aircraft and provides an enormous benefit for airlines. We are thrilled that SpiceJet will be the first operator to showcase the unique capabilities and unbeatable productivity of our turboprops.”

About SpiceJet Ltd
SpiceJet is India’s favourite airline that has made flying affordable for more Indians than ever before. SpiceJet operates 412 average daily flights to 54 destinations, including 47 domestic and 7 international ones. The airline connects its network with a fleet of 36 Boeing 737NG and 22 Bombardier Q400 aircraft. The majority of the airline’s fleet offers SpiceMax, the most spacious economy class seating in India.

SpiceJet also operates a dedicated air cargo service under the brand name SpiceXpress offering safe, on-time, efficient and seamless cargo connectivity across India and on international routes. SpiceJet is the first Indian airline to offer end-to-end cargo services and the airline’s freighters fleet consist of Boeing 737 aircraft.

SpiceJet’s standing as the country’s favourite airline has been further reinforced by the multiple awards and recognitions which includes the US-India Strategic Partnership Forum Leadership Award to Ajay Singh, , Global ‘Low-Cost Leadership Award’ conferred to Mr Singh at the Airline Strategy Awards 2018 in London, ‘BML Munjal Awards 2018’ for ‘Business Excellence through Learning and Development’, ‘Best Domestic Airline’ Award at Wings India 2018, ‘EY Entrepreneur of the year 2017 for Business Transformation’ by Ernst & Young, The CAPA Chairman’s Order of Merit for fastest turnaround in FY 2016, ‘Asia’s Greatest Brands – 2016′, ‘Global Asian of the Year Award’  & ‘Asia’s  Greatest CFO 2016′ at the AsiaOne Awards held in Singapore, ‘World Travel Leaders Award’ at WTM London, ‘Best Check- in Initiative’ award by Future Travel Experience global awards in Las Vegas, ‘Best Domestic Airline’ award at the 10th ASSOCHAM International Conference & Awards (Civil Aviation & Tourism).

About Bombardier
With over 69,500 employees across four business segments, Bombardier is a global leader in the transportation industry, creating innovative and game-changing planes and trains. Our products and services provide world-class transportation experiences that set new standards in passenger comfort, energy efficiency, reliability and safety.

Headquartered in Montreal, Canada, Bombardier has production and engineering sites in 28 countries across the segments of Transportation, Business Aircraft, Commercial Aircraft and Aerostructures and Engineering Services. Bombardier shares are traded on the Toronto Stock Exchange (BBD). In the fiscal year ended December 31, 2017, Bombardier posted revenues of $16.2 billion US. News and information are available at bombardier.com or follow us on Twitter @Bombardier.

Notes to Editors
Images of Q400 aircraft in the livery of SpiceJet are posted with this news release at www.bombardier.com.

The Q400 aircraft backgrounder is available in the BCA Media Hub

For information about SpiceJet, visit: www.spicejet.com

Follow @BBD_Aircraft on Twitter to receive the latest news and updates from Bombardier Commercial Aircraft.

To receive our press releases, please visit the RSS Feed section of Bombardier’s Website.

Bombardier, Q400 and Q Series are trademarks of Bombardier Inc. or its subsidiaries.

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Bombardier Delivers First 90-seat Q400 Aircraft to SpiceJet

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  • SpiceJet becomes the first airline to take advantage of the Q400 aircraft’s increased profit potential

CaribPR Wire, TORONTO, Sept. 21, 2018: Bombardier Commercial Aircraft today announced the delivery of its first 90-seat Q400 aircraft. The aircraft was handed over to India’s SpiceJet Limited (“SpiceJet”) the launch operator for the extra-capacity, 90-seat aircraft.

“We are excited to induct the 90-seat Q400 aircraft into our fleet,” said Ajay Singh, Chairman and Managing Director, SpiceJet. “The additional seats and performance improvements will result in substantial reduction in unit costs and also we will enable us to address our market needs in the regional space.”

“The delivery of the first 90-seat Q400 aircraft showcases the commitment of Bombardier’s Q Series turboprop program to respond to customer requirements as they address traffic growth in regional markets,” said Todd Young, Head of the Q Series Aircraft Program, Bombardier Commercial Aircraft.
“I thank and congratulate the employees and suppliers who have worked tirelessly to deliver this most recent enhancement to the Q400 aircraft, and I also thank our customer, SpiceJet for its strong support and collaboration in this continuous improvement program.”

“This is a very important milestone for the Q400 aircraft program because the 90-seat option demonstrates the increased profitability potential that this unique turboprop has to offer,” said
Colin Bole, Senior Vice President, Commercial, Bombardier Commercial Aircraft. “The increased passenger capacity allows 15 per cent reduction of seat cost compared to the previous standard Q400 aircraft and provides an enormous benefit for airlines. We are thrilled that SpiceJet will be the first operator to showcase the unique capabilities and unbeatable productivity of our turboprops.”

About SpiceJet Ltd
SpiceJet is India’s favourite airline that has made flying affordable for more Indians than ever before. SpiceJet operates 412 average daily flights to 54 destinations, including 47 domestic and 7 international ones. The airline connects its network with a fleet of 36 Boeing 737NG and 22 Bombardier Q400 aircraft. The majority of the airline’s fleet offers SpiceMax, the most spacious economy class seating in India.

SpiceJet also operates a dedicated air cargo service under the brand name SpiceXpress offering safe, on-time, efficient and seamless cargo connectivity across India and on international routes. SpiceJet is the first Indian airline to offer end-to-end cargo services and the airline’s freighters fleet consist of Boeing 737 aircraft.

SpiceJet’s standing as the country’s favourite airline has been further reinforced by the multiple awards and recognitions which includes the US-India Strategic Partnership Forum Leadership Award to Ajay Singh, , Global ‘Low-Cost Leadership Award’ conferred to Mr Singh at the Airline Strategy Awards 2018 in London, ‘BML Munjal Awards 2018’ for ‘Business Excellence through Learning and Development’, ‘Best Domestic Airline’ Award at Wings India 2018, ‘EY Entrepreneur of the year 2017 for Business Transformation’ by Ernst & Young, The CAPA Chairman’s Order of Merit for fastest turnaround in FY 2016, ‘Asia’s Greatest Brands – 2016′, ‘Global Asian of the Year Award’  & ‘Asia’s  Greatest CFO 2016′ at the AsiaOne Awards held in Singapore, ‘World Travel Leaders Award’ at WTM London, ‘Best Check- in Initiative’ award by Future Travel Experience global awards in Las Vegas, ‘Best Domestic Airline’ award at the 10th ASSOCHAM International Conference & Awards (Civil Aviation & Tourism).

About Bombardier
With over 69,500 employees across four business segments, Bombardier is a global leader in the transportation industry, creating innovative and game-changing planes and trains. Our products and services provide world-class transportation experiences that set new standards in passenger comfort, energy efficiency, reliability and safety.

Headquartered in Montreal, Canada, Bombardier has production and engineering sites in 28 countries across the segments of Transportation, Business Aircraft, Commercial Aircraft and Aerostructures and Engineering Services. Bombardier shares are traded on the Toronto Stock Exchange (BBD). In the fiscal year ended December 31, 2017, Bombardier posted revenues of $16.2 billion US. News and information are available at bombardier.com or follow us on Twitter @Bombardier.

Notes to Editors
Images of Q400 aircraft in the livery of SpiceJet are posted with this news release at www.bombardier.com.

The Q400 aircraft backgrounder is available in the BCA Media Hub

For information about SpiceJet, visit: www.spicejet.com

Follow @BBD_Aircraft on Twitter to receive the latest news and updates from Bombardier Commercial Aircraft.

To receive our press releases, please visit the RSS Feed section of Bombardier’s Website.

Bombardier, Q400 and Q Series are trademarks of Bombardier Inc. or its subsidiaries.

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Carnival-Themed Voter Promotion To Push Participation Of Caribbean Immigrants In U.S. Elections Launched

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One of the Carnival-themed promos unveiled by CaribPR as part of its Caribbean American voting push for Nov. 6, 2018.

One of the Carnival-themed promos unveiled by CaribPR as part of its Caribbean American voting push for Nov. 6, 2018.

CaribPR Wire, NEW YORK, NY, Fri. Sept. 21, 2018: With 46 days until the November 6, 2018 mid-term election in the U.S. from today, September 21, 2018, CaribPR Wire, the PR newswire of the Caribbean and partner of the PR Newswire, is launching a carnival-themed voter promotion campaign across the United States to urge Caribbean immigrants and Caribbean Americans who are eligible to vote, to ensure they do.

The promotion is the brain-child of CaribPR Wire founder, Felicia J. Persaud, to stimulate and drum-up voter turn-out among the Caribbean immigrant voting bloc in the U.S. this November.

“This is the most critical election of our life-time as immigrants in this country, especially given the anti-immigrant policies being put in place by this administration,” said the Guyana-born, U.S. citizen and media entrepreneur. “Those of us who have earned the hard-fought right to vote need to use it on D-Day, Nov. 6th, or we may lose it forever and be shocked to find ourselves sucking salt back in the islands and nations we came from.”

The campaign was conceptualized and created by award-winning digital media company, Hard Beat Communications and is aimed at keeping the beat of carnival going into the polls this November 6th. The creative social media targeted advertising campaign includes 9 Caribbean-centric messages as: “Lime, Wine, Vote” “Vote Or Your Lime Is History” and “Jam Up The Polls This Nov. 6th.” There are also culturally specific messages including: “Jab Jab To The Polls This Nov. 6th,” “Hot Gyal A Vote,” “Dutty Wine To The Polls This Nov. 6th” and “Ride De Riddim and Vote This Nov. 6th.”

Media houses and Caribbean nationals wishing to download the ads and share the message can access them on CaribPR’s Facebook page here.

“We urge all Caribbean immigrants, organizations, entertainers and Caribbean nationals globally to spread the message and to insist their family and friends who can vote in the U.S. do so this November 6th or the civil rights and liberties we see quickly eroding right now may be history,” Persaud added.

MEDIA CONTACT:

Kathy Bronson

kbronson@hardbeatcommunications.com

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