Created: Mar 03, 2010 10:00 AM
They receive equity in the form of a mix of preference and common sharesOwn 82.5 percent of the bank's valueExisiting common shareholders given the right to buy more shares at $1.21Proceeds from the rights offering to be used to repurchase shares from new investors, thereby reducing the new investors' stake from 82.5 percent to a minimum of 63 percent
The deal in a nutshell
Carlyle Group $150m
CIBC $150m
Other investors
Bermuda Government Pension Funds
The Wellcome Trust
Julian Robertson
Goshen Investments $250m
They receive equity in the form of a mix of preference and common shares
Own 82.5 percent of the bank's value
Rights issue $130m
Exisiting common shareholders given the right to buy more shares at $1.21
Proceeds from the rights offering to be used to repurchase shares from new investors, thereby reducing the new investors' stake from 82.5 percent to a minimum of 63 percent
