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Express Catering wats to raise up to US$12 million on bond market.

Express Catering is looking to raise up to US$12 million via the bond market.
 
The initial public offer of the company's US dollar senior unsecured bond, due 2027, is expected to run from February 9 to March 8.
 
The minimum investment is US$100, with increments of $100 thereafter.
 
The company has set the target at US$10 million, with the option to upsize to $12 million.
 
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.
 
Express Catering will use the rest of the funds to complete the build-out of the food court at Sangster International.
 


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