Road show aim: US$300M

By Michael Klein, mklein@cfp.ky

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The Cayman Islands government is seeking to raise US$300 million in a government bond issue, Premier McKeeva Bush confirmed in a press briefing last week.

The capital raised from the bond issue is intended to refinance existing debt.

To promote the sovereign bond to prospective investors, Mr. Bush on Sunday embarked on a road show to international financial centres including London, New York, Singapore and Hong Kong.

The government will also use the trip to attract foreign investment and promote Cayman as a viable location for businesses.

This part of the road show is organised around a number of cocktail events that are sponsored by DART.

The aim is to present Cayman as a location where businesses can relocate. The government will test the water with potential investors by proposing several ideas that will make Cayman’s immigration policies more business friendly.

“We will be telling these audiences about some new initiatives that will help make the Cayman Islands even more attractive to international business, such as making the immigration process quicker and easier for financial services firms and offering a dedicated service to help investors who choose to locate their businesses in the Cayman Islands with the practicalities of finding office space, relocating their families and securing staff,” Mr. Bush said at the press briefing last Thursday.

Speaking to Reuters in London on Monday, Mr. Bush said the government wants to entice financial firms to physically relocate and settle in Cayman.

"It’s what I encourage; it’s a new drive. You bring your children," Mr. Bush said.

The networking events are mainly targeting financial services and investment firms and will provide potential investors with background information on Cayman as a business location. Participants at the events will also be supplied with copies of Cayman Financial Review, the financial services magazine produced by Cayman Free Press.