In a positive development for investors and the company alike, Barita Investments Limited (BIL), has announced the upsizing of its bond offering. 

According to the company, this decision reflects strong market demand and paves the way for continued expansion and financial strength.

The bond is being offered on the Jamaica Stock Exchange. It comprises seven tranches of senior unsecured bonds totalling US$11.00 million and J$2.25 billion, with the potential to be upsized by an additional US$6 million and J$1.25 billion. The offer features bonds with varied tenors (2 to 10 years) and attractive coupon rates ranging from 7.00% to 10.90% per annum.

Following the up-size decision, the bond offering now includes the following tranches:

• 7.00% USD Senior Unsecured Bonds Due 2027 (Tranche I) – upsized to US$8,500,000.00
• 7.50% USD Senior Unsecured Bonds Due 2028 (Tranche II) – upsized to US$8,500,000.00
• 9.75% JMD Senior Unsecured Bonds Due 2027 (Tranche III) – upsized to J$700,000,000.00
• 10.00% JMD Senior Unsecured Bonds Due 2028 (Tranche IV) – upsized to J$700,000,000.00
• 10.50% JMD Senior Unsecured Bonds Due 2030 (Tranche V) – upsized to J$700,000,000.00
• 10.75% JMD Senior Unsecured Bonds Due 2032 (Tranche VI) – upsized to J$700,000,000.00
• 10.90% JMD Senior Unsecured Bonds Due 2035 (Tranche VIII) – upsized to J$700,000,000.00

The bond offering remains open until May 26, 2025, though BIL reserves the right to close the subscription period early once all allocations are fulfilled. Given the strong demand and limited remaining capacity, investors are encouraged to participate promptly.

Bond proceeds will be strategically allocated to refinance existing debt, fund strategic asset acquisitions, support securities trading, strengthen liquidity, and facilitate investment banking transactions, facilitating Barita’s continued growth and market leadership.

Ramon Small-Ferguson, CEO of Barita Investments Limited, commented, “We appreciate the support that we have been receiving for the bond offer, and we are committed to continuously increasing shareholder value, focusing on improving efficiency and enhancing client experience.”

Terise Kettle, Senior Vice President, Investment Banking, noted, “This up-size reflects our strong investor interest and confidence in our strategic vision. The bond offering underpins our commitment to long-term growth, while delivering value to our clients and shareholders.” 

The full Prospectus, including detailed terms, risk factors, and conditions, is available on the JSE website (www.jamstockex.com) and Barita’s official website (www.barita.com).