Future Energy Source Company (FESCO) has raised $600 million through a new four-year corporate bond to refinance debt and support its long-term expansion plans.
The bond, which matures in June 2030, was arranged by NCB Capital Markets.
FESCO says the proceeds will be used to redeem its $1 billion bond during March next year, with the remaining funds earmarked for working capital to support growth across its business segments.
NCB Capital Markets has acted as leader arranger on FESCO's previous two bond issues and also led the company's successful Junior Market listing in 2021.
He says the investment firm is proud to continue partnering with FESCO - which it described as Jamaica's largest domestic fuel marketing company - while providing financing solutions to help achieve its long-term growth objectives.
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