JAM | Nov 20, 2023

SCI’s dual currency preference share offer now open

/ Our Today

Reading Time: < 1 minute
(From left to right) Greg Samuels, Senior Vice President and Head of Investment Banking at Sygnus, Jason Morris, Co-Founder, Executive Vice President, and Chief Investment Officer at Sygnus, and Karl Townsend, Chief Country Officer (Jamaica), Capital Markets Unit, JMMB, engage in discussions about the recently announced Sygnus Credit Investments Dual Currency Cumulative Redeemable Preference Share Offer.

Sygnus Credit Investments Limited (SCI) has announced that its dual currency cumulative redeemable preference share offer is now open for subscriptions.

The offer totals US$20 million and J$800 million across three classes of preference shares.

Participants, existing JMMB clients, can submit their applications through JMMB’s Moneyline
platform, while non-JMMB clients can submit their applications on the newly launched JMMB
Moneyline IPO platform.

Allocations of the cumulative redeemable preference shares will be determined on a first-come-first-served basis, based on the time of receipt of the subscription.

The minimum subscription for each class is as follows:

US$500 preference shares for Class E,

US$500 preference shares for Class D

J$50,000 JMD preference shares for Class C.

The net funds garnered through the preference share offering will be strategically invested and retained in tailor-made credit instruments primarily issued by Medium-Sized Firms. This diverse investment approach encompasses various sectors, such as manufacturing, distribution, financial services, energy, industrial, construction, transportation, infrastructure, and business services.

Sygnus Capital Limited is the lead arranger and JMMB Securities Limited is the lead broker and co-arranger of this offer.


What To Read Next