Barita Investments Limited, a leading Jamaican financial services firm, has announced the launch of its inaugural public bond offering on the Jamaica Stock Exchange (JSE).

Calling it a landmark transaction, Barita said the offer is an exceptional investment opportunity for potential investors and represents a strategic step in further reinforcing its market position as one of Jamaica’s most resilient securities dealers.

The bond offering comprises seven tranches of US$ and J$ senior unsecured bonds, totalling US$11.00 million and J$2.25 billion, with the option to upsize by an additional US$6.00 million and J$1.25 billion, respectively.

Tranches offer varying tenors from two to ten 10 years and attractive coupon rates ranging from 7.00 per cent to 10.90 per cent per annum. Investors may purchase each tranche with a minimum investment of US$500.00 or J$50,000.00, depending on the tranche’s currency, with additional investments in increments of US$50.00 or J$1,000.00, respectively.

“This bond offering marks a significant milestone for Barita,” stated Ramon Small-Ferguson, CEO of Barita Investments Limited. “The proceeds of the bond will not only strengthen our financial foundation but also provide the resources to capitalise on key growth opportunities across our business lines.”

Proceeds from the bond offering will be strategically allocated to:

• Refinance existing debt: Optimising Barita’s capital structure.
• Fund strategic asset acquisitions: Supporting long-term growth and expansion.
• Support securities trading: Capitalising on market opportunities.
• Strengthen liquidity: Enhancing resilience and flexibility.
• Facilitate investment banking deal execution: Expanding market reach.

Terise Kettle, Barita’s senior vice president of investment banking, added, “One of our mandates at Barita, is to democratise wealth: make wealth accessible to all. The Barita Bond does just that. Investors have the opportunity to invest as low as J$50,000.00 or US$500.00 in a company that has a proven track record of strong financial performance with a strong A+ CariCris rating”.

“Our clients have been asking us to provide them with varying investment opportunities. With the seven tranches and options to invest in Jamaican and US currency, the Barita bond represents excellent investment options. We are confident that this bond offer will attract strong investor interest. The diversified use of proceeds reflects Barita’s strategic vision for sustained growth and value creation for our clients and shareholders,” she added.

The prospectus, providing full details of the offering, including risk factors and terms and conditions, is available on the JSE and Barita websites.

The offering is scheduled to open on March 28, and close on May 26, subject to the company’s right to close the offering earlier or extend the period.