Durrant Pate/Contributor

In an Our Today news follow-up Mayberry Investments has closed its Public Bond Offering, which has been over-subscribed and upsized, more than a weekend ahead of time.

The brokerage and investment company initially sought to raise J$2.06 billion but earlier this week upsized the offering in response to strong demand, and ultimately received applications in excess of J$3-billion.

Yesterday the Board of Directors exercised its right to close the offer early, more than a week of the  May 11, 2026 scheduled start. The bond offer was opened on April 13.

Basis of Allotment

The Basis of Allotment for the Bonds due 2027 will be published on the Jamaica Stock Exchange’s website at www.jamstockex.com within the next seven business days of its closing. Applicants will be advised of their respective allocations, and any refunds due for unallotted of its portions will be processed shortly thereafter in keeping with the terms of the Prospectus. 

Further details regarding the listing of the bond offering will also be communicated in due course. Mayberry wishes to thank all Applicants that participated in the offer and to congratulate all its partners and team members that have been instrumental in making this bond offering a success.  

The fixed-income instruments offers a hedge against the declining local stock market affected by the high interest rate macroeconomy. Mayberry says the proceeds will be used to repay in full its existing 10.75% secured bonds due this year of equivalent size.

Financial covenants cap of this bond offer leverage at four times its capital. Mayberry operates safely within that covenant with bonds at some $6.3 billion in 2024 in line with capital $6.1 billion.