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Express Catering bond closed on Friday

The Express Catering bond offer to raise up to US$12 million closed on Friday.
 
The initial public offer of the company's US dollar senior unsecured bond, due 2027, opened on February 9, and was set to close on March 8.
 
The company says the offer was oversubscribed.
 
Express Catering operates a number of gift shops, along with food and beverage offerings after the security checkpoint area at Sangster International Airport in Montego Bay.
 
Its portfolio includes Air Margaritaville, Auntie Anne's Pretzels, Bob Marley's One Love Restaurant and Dairy Queen.
 
The company plans to use the funds to repay existing debt, specifically the US$8.5 million owed to Sygnus Credit Investments.
 
The rest of the funds will be used to complete the build-out of the food court at Sangster International.
 
The Basis of Allotment will be published on the Jamaica Stock Exchange's website.
 


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