Consolidated Bakeries Jamaica Limited has announced that it has secured a $600 million, 10-year credit facility from Sagicor Bank Jamaica Limited.
The baked goods manufacturer and distributor, which trades as Purity, says the facility will be used to refinance existing debt, fund capital expenditure, and support working capital needs.
The financing arrangement is expected to strengthen the company’s balance sheet and enhance its capacity to execute key business initiatives.
Chief executive officer, Anthony Chang, says it positions Purity to accelerate its growth strategy while optimising the cost of capital.
He says it reflects Purity’s ongoing commitment to financial prudence and operational efficiency.
Meanwhile, Sagicor says Purity is a trusted Jamaican brand with significant growth potential.
Senior Vice President, Corporate Banking, Retail Banking and Strategic Business Development, Michael Willacy, says the financing demonstrates the bank’s commitment to empowering local companies to achieve their business objectives.
Consolidated Bakeries Jamaica Limited is listed on the Junior Market of the Jamaica Stock Exchange.
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