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In 1986, Commonwealth Bank first introduced the Bahamian dollar credit card, SunCard, creating the first Bahamian-dollar card for the nation.
In order to induce investors to purchase Bahamian dollar denominated bonds, Consolidated, the majority owner of Waterfields, issued a Guarantee of Waterfields' obligations to pay all principal and accrued interest to the bondholders.
Under the terms of the agreement, subject to the outcome of the auction, W-D (Bahamas) will sell all of its shares of the common stock of BSL for 50 million Bahamian dollars (approximately $50 million).