Durrant Pate/Contributor

The J$1.5 billion bond issue by Dolla Financial Services, which has been in the market since October last year, has finally been closed as of  Friday January 9, 2026. 

Due to excess demand, the local micro lender, upsized its J$1 billion bond offer to J$1.5 billion as well as extended the closing date from December 31, 2025 to yesterday at 4:30.p.m. Dolla’s Board of Directors decided to make an additional J$500 million worth of shares available for subscription. 

With the bond offer being closed, the Basis of Allotment for these Public Bonds will be published on the Jamaica Stock Exchange’s (JSE’s)website at www.jamstockex.com within the next seven business days. Dolla and Mayberry Investments, which arranged the bond offer has thanked all applicants that participated in the offer, and congratulated all stakeholders that have been crucial in making this bond offering a success.

This successful closing of the bond offer came amid investment outfit Dequity Capital recently pulling its Initial Public Offering (IPO) from the local capital market with liquidity being low and no appetite for equities at this time. Dequity  Capital was looking for this IPO to bring in 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 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.