NCB Financial Group has made history by raising US$225 million through a senior secured bond offer on the international capital markets, becoming the first Jamaican financial institution to do so in the prestigious 144A/Reg S market.
The deal, which closed on July 31, marks the second largest financial bond issue in Caribbean history and the first international market transaction by a Jamaican company in five years.
The bonds, which mature in 2030, carry an 11% coupon and were rated B- by S&P and B+ by Fitch, both with stable outlooks.
The offer, led by Citibank, saw strong demand from global institutional investors across the Caribbean, US, UK, Europe and Canada.
comments powered by Disqus
All feeds
