The Future Energy Source Company (FESCO) has redeemed its unsecured corporate bond ahead of its scheduled maturity date.
The company says the bond, which carried an interest rate of 7.5 per cent and was originally due to mature in March 2027, was well redeemed June 18 this year.
Following the redemption, FESCO has asked the Jamaica Stock Exchange to delist the bond from its private market effective June 25.
The early redemption comes after the company recently secured a new $600 million corporate bond to refinance part of its debt and provide working capital to support its long-term growth plans.
FESCO says the delisting reflects the full repayment of the bond and the completion of its obligations under the issue.
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