Loan Agreement issued with sample Closing Loan Agreements for a Commercial Finance Loan of $53.5M.
Online PR News – 14-October-2012 – New York, NY – EB Capital, LLC (“East Bank Capital”) today announced that it has issued its Letter of Agreement with sample Closing Loan Agreements for a Commercial Finance Loan (“Loan”) of Fifty Three Million, Five Hundred Thousand and 00/100 Dollars (USD $53,500,000.00). The proceeds of the Loan will be used for working and development capital for the proposed luxury resort and Exclusive 5 Star resort on the Caribbean island of Barbados, overlooking the Caribbean Sea.
The Borrower and its operating partners are a world known resort and management firm operating luxury hotels and resorts around the world. The company currently operates in the United States and the United Kingdom.
"The Loan will help service the recovering resort industry in the Caribbean and help the economy to its road to recovery. The natural beauty and service oriented culture has been a destination for the most discerning traveler for many decades.” said Josh Estes, Managing Director of East Bank Capital.
East Bank Capital's purpose is to enable its clients to seize opportunities in emerging markets thru privately placed secured structured loans. We build value for our shareholders and strategic alliances thru the strength of our customers’ satisfaction and by consistently producing superior results. We strive to be the preferred financial partners in helping our clients succeed in the world's rapidly evolving markets. East Bank Capital is one of the nation's leading Project Finance Lenders specializing in Energy, Corporate and Entertainment sectors.
This announcement contains statements that are, or may be, forward-looking statements. All statements other than statements of historical facts included in this announcement may be forward-looking statements. Forward-looking statements often use words such as "target", "plan", "believe", "expect", "aim", "intend", "will", "should", "could", "would", "may", "consider", "anticipate", "estimate", "synergy", "cost saving", "project", "goal" or "strategy" or words or terms of similar substance or the negative of such words. Forward-looking statements include statements relating to the following: (i) the expected timetable for implementing the transaction, future capital expenditures, expenses, revenues, earnings, synergies, economic performance, financial condition, losses and future prospects of EastBank Capital and (ii) business and management strategies and the expansion and growth of EastBank Capital’s operations and potential synergies resulting from the transactions contemplated.
These forward-looking statements are not guarantees of future performance. They have not been reviewed by auditors. There are a number of factors that could cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements, including, among other things, the enactment of legislation or regulation that may impose costs or restrict activities; the re-negotiation of contracts or licenses; fluctuations in demand and pricing; fluctuations of exchange controls, changes in government policy and taxation; industrial disputes; war and terrorism. These forward-looking statements involve known and unknown risks and uncertainties which may cause them to differ from the actual results, performance or achievements expressed or implied by such forward-looking statements. These forward-looking statements are based on numerous assumptions regarding the present and future business strategies of such persons and the environment in which each will operate in the future. Investors are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date of this announcement. All subsequent oral or written forward-looking statements attributable to EastBank Capital or any of their respective members, directors, officers or employees or any persons acting on their behalf are expressly qualified in their entirety by the cautionary statement above. All forward-looking statements included in this announcement are based on information available to EastBank Capital on the date of this announcement and are made only as of the date of this announcement. Undue reliance should not be placed on such forward-looking statements. Subject to compliance with their legal and regulatory obligations, EastBank Capital does not intend, or undertake any obligation, to update any forward-looking statements contained in this announcement.