Jamaica Broilers Group’s (JBG) board of directors has indicated that the $15 billion refinancing arrangement structured by NCB Capital Markets Limited will be used to restructure the agricultural and agro-processing entity.

In a release shared on the Jamaica Stock Exchange website, the JBG directors said the facility was secured in accordance with the company’s governance framework.

“The arrangement comprises $6.4 billion in loan facilities provided by National Commercial Bank (Jamaica) Limited, together with $8.7 billion multi-tranche bonds with maturities extending up to 14 years,” JBG outlined in the release.

“As a refinancing solution, the agreement forms a critical component of the company’s restructuring and operational recovery strategy. It is intended to support corrective actions currently underway following the identification of accounting irregularities in the company’s US operations, which affected the Company’s financial performance for the year ended May 3, 2025,” the release stated further.

JBG anticipates that the funds received through the arrangement will strengthen the company’s liquidity position and provide the stability and financial lubrication required to execute its strategy, reinforce internal controls and support the continued growth of its local operations.

“We are implementing a disciplined turnaround plan that places governance, oversight, and operational efficiency at the core,” Christopher Levy, group president and CEO of Jamaica Broilers Group, shared at the signing ceremony for the deal.

“We have strengthened leadership, restored financial controls, engaged auditors with specialised sector experience, and brought our US operations under the direct supervision of the Group’s Jamaican-based leadership. With NCB’s support, we are confident in our ability to regain momentum and rebuild shareholder value,” he continued.

While JBG’s US business undergoes restructuring, its Jamaican operations remained profitable, delivering a net profit of J$2.5 billion and maintaining an equity position of $16 billion for the year ended May 31, 2025. This highlights the resilience and underlying strength of the domestic business.