In December 2012, Standard International Group served as Dealer Manager and Financial Advisor for the Exchange Offer of the 8.25% Fixed Rate Notes and the New Issuance of $142,645,000 of 5.50% Fixed Rate Senior Notes due 2027. Standard International Group was also instrumental in the coordination of the successful Moody’s investment grade rating of Princess Juliana International Airport N.V. – PJIAE (St. Maarten) of “Baa2”, as well as the investment grade first-time sovereign rating of the Government of St. Maarten by Moody’s of “Baa1”. As a result, PJIAE was able to reduce its borrowing costs, extend the debt maturity profile, receive investment grade covenants, and raise approximately $62,000,000 of additional debt to finance its Capital Improvement Projects. In May 2004, Standard International Group served as Financial Advisor to PJIAE in their successful closing of US$118,590,000 of 8.25% Fixed Rate Notes due 2019 provided by Royal Merchant Bank of Trinidad & Tobago. Standard International Group advised PJIAE from start to finish on what was considered a fast-tracked loan that was fully underwritten in four months at commercially acceptable terms which included one of the longest tenors (15 years) in the Caribbean. The new terminal facility opened November 10, 2006. Standard International Group began serving as financial advisor to PJIAE in 1999.