>'Major progress' in Baha Mar's Scotia loan talks

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>BAHA Mar and Scotiabank were last night said to be “close” to a resolution over the latter’s $170 million syndicated loan that financed the developer’s acquisition of the existing Cable Beach properties, sources close to the situation telling Tribune Business that “tremendous progress” had been made.

This newspaper was told that Baha Mar and the bank, which is involving executives from its Toronto head office in the talks, had been meeting since the developer signed the $2.5 billion loan with China Export-Import Bank to facilitate the $2.6 billion Cable Beach redevelopment.

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