FESCO 5 Year Corporate Bond Disclosure

Mar 09, 2022

Future Energy Source Company Limited (FESCO), advises its valued stakeholders that it has secured debt financing by way of a five (5)-year corporate bond to be listed on the Private Market of the Jamaica Stock Exchange, with NCB Capital Markets Limited (NCBCM) acting as Arranger and JCSD Trustee Services Limited as Trustee. The facility is for an aggregate principal sum of One Billion Jamaican Dollars (J$1,000,000,000.00).

The proceeds will be utilized for general corporate purposes that support FESCO’s growth objectives, including working capital, operating expenses and capital expenditure related to the:

  1. Expansion of its dealership network and service station footprint; and
  2. Entry into the consumer cooking gas/LPG market, an objective outlined in its Prospectus.

The facility offered by NCBCM is compatible with the business’ growth plans and sustainability strategies.

“FESCO represents one of the several initial public offers we would have brought to the market in the last 24 months. Our relationships with our clients are on-going and we continuously work with our clients to develop suitable options to meet their capital needs. The J$1 billion bond is such an example. This underscores our commitment to doing more for our clients and the capital markets at large” stated Nicholas Dawson- Investment Banking Manager of Origination and Structuring at NCBCM.

7-9 Beechwood Avenue, Kingston, Jamaica