Feb 2013 Financial News

NCBJ - Participation in National Debt Exchange

Feb 25, 2013

National Commercial Bank Jamaica Limited (NCBJ) has informed the Stock Exchange that the Company and its subsidiaries have participated in the National Debt Exchange (NDX) that was launched by the Government of Jamaica (GOJ) on February 12, 2013, in which holders of various GOJ debt instruments were invited to exchange them for instruments with lower coupons and extended maturities. The settlement date was February 22, 2013. It is likely that, consequent on the Company’s participation in the NDX, there will be some immediate adverse impact on its Income Statement. However, it should not materially affect NCBJ’s capital, and it is expected that the medium to long term effects of the NDX programme for Jamaica should be positive and the adverse impact on the company would be mitigated.


Source:
The Trinidad and Tobago Stock Exchange Limited
Monday February 25, 2013