MercoPress. South Atlantic News Agency

Falklands Government successfully raises funds for future capital investments

Among critical projects are the replacement of FIPASS and the development of a new Power Station, which are both essential infrastructure for the Falklands

The Falkland Islands Government (FIG) has successfully raised £150 million to facilitate investment in the capital program over the coming years, and in particular the replacement Port facility planned for 2027.

The funds were raised through a debut private placement arranged with the support of the team at Rothschild & Co with investment secured of £100m from L&G and £50 million from Aberdeen Group PLC.

FIG’s £150 million unsecured fixed interest note offering generated significant investor interest both within the UK and North America. FIG has secured competitive terms, with fixed rate interest and funds repayable in several tranches over the next 25 years, with the first repayment due in 2040.

MLA Roger Spink, Portfolio Holder for The Treasury, said: “I am delighted that we have secured this investment on competitive terms which reflects the confidence in our financial position and in our economy. The funding will enable FIG to deliver on a number of critical projects in the next few years, namely the replacement of FIPASS and the development of a new Power Station, which are both essential infrastructure for the Falkland Islands and support our continued economic growth”.

Steve Bolton, Head of Corporate Private Credit - UK and Europe at L&G commented: “We’re really pleased to announce this funding to develop new infrastructure for the Falkland Islands Government. Institutional investment can be a key driver in supporting capital-intensive, long-term projects that can make a real difference both socially and economically.”

Andrew Dennis, Head of Private Placements at Aberdeen, said: “We are absolutely delighted to support the Falkland Islands Government in advancing its capital programme over the coming years. Our ability to deploy long-term, patient capital marries perfectly with the Government’s growth plans and prudent fiscal performance”.