Proven Wealth has structured a $1.5 billion bond for the Jamaica Mortgage Bank (JMB) in a deal aimed at boosting the state-run lender's ability to finance housing developments across the island.
The unsecured fixed rate bond was arranged via private placement and signed in September.
The proceeds are being used by the JMB to refinance existing debt maturing in March and April 2025, freeing up capacity to extend new financing for housing projects, including the delivery of roughly 800 housing units now under construction in Kingston and St. Andrew.
Luwanna Williams, President and CEO of Proven Wealth, said the transaction highlights the growing role of private capital in supporting Jamaica's housing and economic development goals.
Managing Director of the Jamaica Mortgage Bank, Courtney Wynter, described the funding as timely, noting that demand for affordable housing remains extremely high.
comments powered by Disqus
All feeds
