Caribbean Producers Jamaica Limited (CPJ) listed its J$500 Million bond on the JSE Junior Market today. This bond listing was the first bond listing on the Junior Market for 2019. Scotia Investments Limited was the arranger
Mrs. Marlene Street Forrest, Managing Director of the JSE at the listing ceremony stated “the Jamaica Stock Exchange is delighted to be able to provide the platform where companies can not only raise equity but debt to expand their businesses. We are pleased with the confidence that CPJ has demonstrated in the market to once again come to the market to raise more funds for their business. We are encouraging more of our listed companies to make use of the bond market which is growing to raise additional capital for their businesses growth and development. The Stock Exchange is proud to assist the country in capital formation”. She reminded companies that “Our doors are always open to serve you in whatever capacity you need”.
CPJ’s Chairman, Mr. Mark Hart stated that, he was happy that investors had great confidence in CPJ to allow them to raise the J$500 million in short order. He stated that there was no better place for companies to raise capital, whether debt of equity than on the stock market. He encouraged more companies to make use of the market to raise capital to finance their businesses, especially in the business friendly climate we were experiencing.
Dr. David Lowe, CPJ’s CEO, in his remarks stated that CPJ was doing very well as a company and would continue to perform to ensure that the confidence placed in them by their shareholders would be warranted. He thanked the Stock Exchange for providing the platform for companies to raise capital in order to develop their business and thanked Scotia Investments for assisting them to raise the capital in very quick time and to arrange the listing on the Stock Market.
Scotia Investments Limited, Mr. Dylan Coke stated, “As the arranger and broker for bonds, we thank CPJ for the confidence that they had in Scotia Investments to raise the capital for their businesses and for the investors that participated in this instrument. It shows that the capital market is serving its purpose of providing the needed capital for businesses. The Junior Market especially is doing very well and Scotia Investments looks forward to bringing more companies to market”.
