Barita Announces Inaugural Public Bond Offering

Barita Investments Limited has announced a landmark Public Bond Offering as part of plans to further reinforce its position.

It’s inaugural public bond offering comprises seven tranches of US dollar and Jamaican dollar senior unsecured bonds.

The total comes to US$11 million, with the option to upsize by an additional US$6 million. The total also has a Jamaican dollar component of $1.25 billion, with the option to upsize to $2.25 billion.

Tranches also offer varying tenures, from two to 10 years, and coupon rates ranging from seven per cent to 10.9 per cent per annum.

Investors may purchase each tranche with a minimum investment of US$500 or JM$50,000, depending on the tranche’s currency. Additional investments are also possible in increments of US$50 or JM$1,000 respectively.

Barita CEO, Ramon Small-Ferguson, says proceeds from the bond offering will be strategically allocated to refinance existing debt, fund strategic asset acquisitions and supporting long-term growth and expansion.

The prospectus, providing full details of the offering, is available on the JSE website www.jamstockex.com and Barita’s website www.barita.com.

The offering opened on March 28, and closes on May 26.