Arranged by Sagicor Investments

Eppley Limited and Sagicor Investments Jamaica Limited have announced that Eppley’s offer of three new classes of preference shares has been successfully completed.

The issue, which closed on Monday (July 26) was oversubscribed.

The basis of allotment for the transaction was published on Friday (July 30).

Speaking about the transaction, Mischa McLeod-Hines, vice president, capital markets at Sagicor Investments, remarked: “The success of Eppley’s preference share issue reflects the company’s long track record of strong, consistent financial performance. We are pleased to have assisted Eppley in improving its funding profile and to have facilitated a wide cross-section of institutional and retail investors in Jamaica with the opportunity to invest in the company, using Sagicor Investments’ new public offer platform, eInvest.”

“Eppley is privileged to enjoy the support of leading institutional and retail investors in the Caribbean. Since going public in 2013 these investors have financed the growth of Eppley’s business and have been rewarded with attractive returns. We would like to thank our investors for their continued support,” said Justin Nam, general manager of Eppley.

“Our most recent preference share issue arranged by Sagicor Investments will lower our cost of funding, improve our maturity profile and facilitate continued growth through execution of our strategic objectives.”