Fontana raises $500-million in private bond placement

Pharmacy chain Fontana has raised $500 million via a private bond placement.

The facility, for which Scotia Investments was the lead arranger and broker, will be used to support Fontana's plans to develop a warehouse and distribution center in Kingston, as well, as a new store in Portmore, St. Catherine.

Fontana says it is capitalized for the Portmore expansion which is slated to begin in 2022. 

The company says it is also open to acquisition opportunities as it seeks to grow the Fontana brand.