Scotia Investments Jamaica Limited says it recently completed a US$162 million refinancing for South Jamaica Power Company Limited- a prominent independent power producer.
The company currently operates a 194-megawatt combined cycle gas fired power plant.
Scotia Investments Limited acted as the lead broker and arranger as well as bookrunner for the financing.
The financing package included a US$107 million loan and a US$20 million bond as well as US$35 million in letters of credit.
The Bank of Nova Scotia Jamaica Limited underwrote the loan.
Scotia Investments Limited structured the deal in order to increase the length of time the power company has to pay its debt.
The loan must be repaid in eight years while the bond must be repaid in 10 years.
Scotia Investments said this strategic move optimises the power company's long term capital structure.
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