Bahamas Evening News: $1.1 billion bond sold at lower rate; Pintard warns PM not to “gaslight” Grand Bahamians

lol242.com Bahamas Evening News · Thursday, October 22, 2026

Here is your Bahamas Evening News for Thursday, October 22. The Government has borrowed $1.1 billion abroad, the FNM leader has judged the Prime Minister’s Grand Bahama plan, and forecasters warn of a rough weekend at sea.

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$1.1 billion bond priced below last year’s rate

The Government has raised $1.1 billion through a 13-year international bond with a 7.70 percent interest rate, and the Ministry of Finance said the offer drew about $3.5 billion in orders at its peak, more than three times the amount on offer. The ministry said the deal is expected to fund early redemption of bonds due in 2028 and June 2029, cutting scheduled principal repayments by at least $331 million through the end of 2029, Bahamas Latest reported. Bahamas Latest noted that the refinancing extends the repayment timeline but does not necessarily reduce the Government’s overall debt.

The rate is about half a percentage point below the 8.25 percent on last year’s $1.067 billion bond, and part of the money will repay about $332 million in Grand Bahama Power Company-related debt. The bond was not in the June borrowing plan, though that plan allowed for new issues. The new 7.7 percent rate is higher than the 6 to 7.125 percent paid on four of the five older bonds the Government is offering to buy back; only one, at 9 percent, costs more. Prime Minister Philip Davis told Parliament last week that folding the Grand Bahama debts into the exercise should reduce annual debt service. FNM chairman Dr Duane Sands said the Government’s fiscal reports are “not worth the paper they are printed on,” The Tribune reported.

Pintard answers the Grand Bahama Green Paper

FNM leader Michael Pintard said Prime Minister Philip Davis must give clear timelines and follow through on his plan for Grand Bahama. “What people have not seen is the actual work getting done and that’s what we need, not to be gaslight by the prime minister,” he said outside Parliament. Asked whether Grand Bahamians should feel hopeful, he replied, “No.” He said the FNM wants to improve the Freeport model rather than move away from it, and suggested duty-free ports could be considered elsewhere in the country, Bahamas Latest reported. The Green Paper proposes a Grand Bahama Development Council, a review and possible replacement of the Hawksbill Creek Agreement and a new Grand Bahama Development Act, with public consultation from November 1, 2026, to April 30, 2027.

Politics

Where did the $127 million come from?

FNM finance spokesman Kwasi Thompson, MP for East Grand Bahama, asked the Government to say which public corporations paid about $127 million in interest and dividends to the Treasury, how much each paid, and where the money came from. He said the lack of detail “adds a cloud of secrecy” to the reported $39.3 million surplus for 2025-2026, The Tribune reported. Deputy Prime Minister Chester Cooper replied in the House that Mr Thompson was basing his conclusion on an “erroneous premise” and urged him to put his questions in writing.

Clash over settlements and appeals

During debate on the Companies (Amendment) Bill, Long Island MP Dr Andre Rollins (FNM) accused the Government of double standards: settling claims by prominent figures without disclosing the amounts, while appealing a negligence ruling over a newborn’s death at Princess Margaret Hospital. Foreign Affairs Minister Fred Mitchell rejected any suggestion the Government was trying to deny the mother’s rights, saying the appeal defends the public interest. Attorney General Wayne Munroe has said every case referred to his office is reviewed to decide whether to fight or settle, The Tribune reported.

Courts and Crime

Lincoln Boulevard killing

Police are pleading with the public to end gun violence after the shooting death of a man in his mid-30s on Lincoln Boulevard on October 21, Our News reported. By the time of publication, lol242 did not find a police release naming the man or announcing an arrest. Anyone with information can call police at 919 or 911, or Crime Stoppers anonymously at 328-TIPS (8477).

Thorne Clarke award

Criticism is growing over Attorney General Wayne Munroe’s plan to appeal the $941,893.91 damages award to Thorne Clarke, who was paralysed by a police bullet in 2016, unless his National Insurance benefits are deducted. Police said Mr Clarke tried to drive at an officer, which he denies; judgment was entered after the state filed no defence. Former FNM senator Maxine Seymour, a disability advocate, called the plan “deeply troubling.” Mr Munroe has argued that not deducting the benefits was an error of law. The state has already paid Mr Clarke $80,000, The Tribune reported.

In the courts

Twenty-two foreign nationals were convicted of immigration offences in New Providence over two days, most for overstaying, and were fined or jailed for one to three months before expected deportation, Bahamas Latest reported.

Business

Air safety after the Andros crash

The Aircraft Accident Investigation Authority (AAIA), which is investigating the July 10 crash in North Andros that killed ten people has made two safety recommendations to the Civil Aviation Authority: step in earlier with operators and pilots who show a pattern of safety events, and tighten oversight at busy times such as regattas, festivals and homecomings. The regulator said it is formalising such a system and has extended surveillance coverage to weekends and public holidays; the AAIA called the reply “responsive” but not yet complete, The Tribune reported.

Grand Bahama

The rebuild of Port Lucaya Marina is on hold again. Its owners, Bahama Land Waterways, said a draft court order proposed by their landlord, the Grand Bahama Development Company (DevCo), would put the repairs under judicial supervision on terms they called “unreasonable and unworkable,” and that they will appeal that part of a September Supreme Court decision. The ruling had rejected DevCo’s bid to take back the seabed lease but ordered repairs. DevCo and the Grand Bahama Port Authority have previously said they were only enforcing permitting and approval requirements. DevCo did not respond to The Tribune before publication, The Tribune reported.

Community

Education: The B.E.S.T. Foundation, launched in Nassau to get businesses, investors and the public more involved in funding education, drew about $500,000 in pledges at its launch, Our News reported.

Caribbean and World

Haiti: Haitian police, backed by the Gang Suppression Force, are pressing on with a major operation that began October 18 across the Plaine du Cul-de-Sac east of the capital, HaitiLibre reported. Four Salvadoran soldiers serving with the force as aviation technicians have been missing since gangs ambushed and burned their armoured vehicle in Santo, Croix-des-Bouquets, on October 18, the EFE news agency and ACLED reported. The conflict monitor ACLED said the force has about 2,000 of a planned 5,500 personnel, and that kidnappings so far this year are already 21 percent above all of 2025.

Sports

Basketball: VJ Edgecombe had nine points, four rebounds, one assist and one steal in 34 minutes as the Philadelphia 76ers opened the NBA season with a 106-100 win over the champion New York Knicks, The Tribune reported.

Baseball: Sebastian Walcott, the Texas Rangers’ top prospect, hit a grand slam and drove in four runs in the Surprise Saguaros’ 12-5 win over the Mesa Solar Sox in the Arizona Fall League, The Tribune reported.

Weather

The Bahamas Department of Meteorology expects showers and isolated thunderstorms mainly over the Northern Bahamas tonight, with overnight lows of 75 to 79 degrees. Large swells from Subtropical Storm Josephine will keep seas hazardous into the weekend; the storm is well off the northeastern US coast, about 200 miles southeast of Nantucket, Massachusetts, the US National Hurricane Center said. The Met Department expects a low to form near the western Bahamas, bringing widespread showers and thunderstorms from Saturday and, by Sunday, gale-force winds and dangerous, possibly life-threatening waves. It rates the risk of rip currents moderate to high in all Northern and Northwest Bahamas waters, urges beachgoers there to stay out of the sea, and warns motorists to take care on coastal roads, including the Glass Window Bridge in Eleuthera.

What do you think: is the new $1.1 billion bond a smart move for the country, and what would you want to see change first in Grand Bahama? Tell us in the comments.

Sources for this edition include The Tribune, Bahamas Latest, Our News, HaitiLibre, the EFE news agency, ACLED, the US National Hurricane Center and the Bahamas Department of Meteorology. Statements by politicians are their own claims and are reported as such. People charged with crimes are presumed innocent unless proven guilty.

This news was brought to you by one of our sponsors, PayDat LLC, and researched by Michael Elijah Muhammad Clare. To sponsor the next edition, send Michael a WhatsApp message at 242-817-9293.