Home' Trinidad and Tobago Guardian : February 11th 2016 Contents A29
Thursday, February 11, 2016 www.guardian.co.tt Guardian
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FIRST CITIZENS (ST. LUCIA) LIMITED ANNOUNCES THE REPAYMENT
OF US$175,000,000.00 BONDS DUE FEBRUARY 2016
First Citizens (St. Lucia) Limited announces today the repayment of
US$175,000,000.00 4.903% bonds due February 9, 2016. First Citizens
(St. Lucia) Limited issued these bonds on February 9, 2011 for a term of five
(5) years at a fixed interest rate. Principal and interest due on the bonds were
guaranteed by First Citizens Bank Limited. The bonds were offered only to
qualified institutional buyers under rule 144A of the US Securities Act 1993
and to non-U.S. persons in compliance with Regulation S. of that Act.
The proceeds for the repayment of these bonds were obtained from internally
generated funds, a reflection of the strength of the financial performance
and liquidity of First Citizens. This transaction repays higher cost US$ debt
and strengthens the earnings of the Bank attributed to shareholders. Indeed,
First Citizens capital and balance sheet structure is well positioned to support
its business operations in the current economic environment.
Up until the repayment of these bonds, they were rated by both Moody's
Investors Service and Standard and Poor's Ratings Services. The ratings
assigned to the bonds by Moody's and Standards and Poor's were Baa2 and
BBB+ respectively. Given that the First Citizens Group no longer has any
bonds issued in the international markets and in light of the objective for
cost containment in the current economic environment, a decision was taken
to maintain only one corporate international credit rating at this time.
This press release does not constitute an offer to sell or the solicitation of
an offer to buy securities, and shall not constitute an offer, solicitation or
sale in any jurisdiction in which such offering, solicitation or sale would be
unlawful prior to registration or qualification under the securities laws of
February 09, 2016
EL SALVADOR---For health workers
battling Zika across much of Central
America, the immediate menace is
not the mosquitoes that transmit the
virus. It s the gangsters who control
the streets, and sometimes threaten
Armed and well-organised street
gangs known as maras exert near-total
control over entire neighbourhoods,
using sentries to track everyone who
comes and goes.
In some cases, they deny access to
health crews they suspect of working
with police or a rival gang.
In 2014, an emergency medical tech-
nician accompanying a fumigation team
in greater San Salvador was shot dead
by mara members after they lifted his
shirt and, according to local media
reports, found he had a tattoo from a
Similar incidents have played out in
neighbouring Honduras and in
Guatemala, where fumigators are chased
by thugs, assaulted or charged a small
tax for access.
"The state is absent" in such areas,
said Carlos Carcach, a criminologist
with the Superior School of Economics
and Business in El Salvador. "The state
is being replaced by the gang."
More than 7,000 suspected cases of
Zika have been identified in El Salvador.
The country has also launched a cam-
paign against the Aedes aegypti mos-
quito, relying on aggressive fumigation
and the removal of standing water and
refuse where its larvae can breed.
But El Salvador, a country of just six
million people, recorded more than 700
murders in January and had a homicide
rate of 103 per 100,000 inhabitants last
year, believed to be the highest of any
country not in open war.
That s the environment in which
government health workers struggle to
contain Zika. (AP)
obstacle in fight
SEOUL---North Korea s army chief
of staff has been executed, South
Korean media reported yesterday, in
what would amount to the latest in a
series of purges and executions of top
officials by leader Kim Jong-Un.
Ri Yong-Gil, Chief of the Korean
People s Army (KPA) General Staff,
was executed earlier this month for
forming a political faction and cor-
ruption, Yonhap news agency said,
citing a source familiar with North
Ri was often seen accompanying Kim
Jong-Un on inspection tours, but his
name was conspicuously missing from
state media reports of a recent major
party meeting and celebrations over
Sunday s rocket launch.
"The execution... suggests that Kim
Jong-Un still feels insecure about his
grip on the country s powerful military,"
Yonhap quoted the source as saying.
"It shows that Kim s reign of terror
still persists," the source was quoted as
saying. The National Intelligence Service
(NIS) in Seoul declined to comment on
In May last year the NIS said Kim
had his defence chief, Hyon Yong-Chol,
executed---reportedly with the use of
an anti-aircraft gun.
Reports---some confirmed, some
not---of purges, executions and disap-
pearances have been common since
Kim took power following the death of
his father Kim Jong-Il in December
North Korea's army chief
of staff executed: report
In this February 5 photo, a soldier provides security for a Health
Ministry worker fumigating against the Aedes aegypti mosquito in
the La Comuna neighbourhood of Guatemala City. For health workers
battling Zika across much of Central America, the immediate menace
is not the mosquitoes that transmit the virus. It's the gangsters who
control the streets, and sometimes threaten their lives. AP PHOTO
North Korean leader Kim Jong-Un, right, and Ri Yong-Gil, chief of the Korean
People's Army (KPA) General Staff.
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