Durrant Pate/Contributor

Dolla Financial Services has decided to exercise the option to extend by just over a month its $1 billion bond offer to December 31, 2025.

The bond offer was originally scheduled to close this Thursday, November 13, but has been extended in light of the widespread impact of Hurricane Melissa across Jamaica, which has affected communities and general market activity. The micro-lender retains the right to close the offer earlier, with notice published on the Jamaica Stock Exchange’s website.

Dolla said it remains fully operational and continues to serve its customers islandwide. In addition, the company has been actively supporting recovery efforts and contributing to relief initiatives in the communities most impacted by the hurricane.

The two-tranche offer of $500-million for five years with an interest rate of 12% and the second tranche of an equal amount for three years with an 11% interest rate went on the market on October 23, 2025, Dolla Financial reserves the option to up-size the offer by issuing an additional $500-million in total in any tranche or combination of tranches for a total amount of J$1.5 billion.

Dolla Financial intends to use the proceeds to: (i) grow its loan portfolio; and (ii) repay certain indebtedness, including approximately J$570 million falling due in October 2025. The company also intends to pay the expenses associated with the Invitation out of the proceeds which it estimates will not exceed J$30 million inclusive of General Consumption Tax.

Dolla’s obligation to pay will be secured by a debenture creating a fixed and floating charge over all of its assets. It is expected that the Secured Bonds will be admitted to listing on the Bond Market of the Jamaica Stock Exchange within 21 days of the closing date.

Interest will be calculated and accrued from day to day but prorated on the basis of a 360-day year and paid quarterly on each Interest Payment Date. The first Interest Payment Date will be December 30, 2025.