Durrant Pate/Contributor

Due to excess demand, local micro lender Dolla Financial has upsized its J$1 billion bond offer to J$1.5 billion as well as extended the closing date from December 31, 2025, to January 9, 2026, at 4:30 pm.

The Board of Directors has decided to issue an additional J$500 million worth of shares available for subscription. The company retains the right to close the offer earlier with notice published on the Jamaica Stock Exchange’s website. Interestingly, this news comes as investment outfit Dequity Capital decided to pull its Initial Public Offering (IPO) from the local capital market last week, citing low liquidity and a lack of appetite for equities at this time.

Dequity Capital was seeking this IPO to raise J$657.5 million in fresh capital and to have the common shares listed on the JSE main market. Dolla’s bond offer was opened on October 23, 2024, with an initial closing date of November 13, 2025, but was later extended to December 31, 2025, due to the impact of Hurricane Melissa on market activity. The bonds are expected to be listed on the Jamaica Stock Exchange (JSE) Bond Market shortly after the closing date. 

The bond offer, which is being used to grow the company’s loan portfolio and repay existing debt, comes in two tranches with Tranche I, which carried a 3-year tenor for J$500 million attracting an interest rate of 11% interest rate per annum while Tranche II of an equal amount of J$500 million for five-years and a 12% interest rate per annum. Minimum subscription of J$20,000 with increments of J$10,000, with interest payments being made quarterly 

The bonds are secured by a fixed and floating charge over all of Dolla’s assets. For the third quarter ended September 30, 2025, Dollar reported a 236% increase in net profit to $186.51 million. The company’s performance was driven by strong total income growth and an expanded loan portfolio.