May 2017 Financial News

NCB Capital Markets to whet investors' appetites with new $6-b bond

May 05, 2017

Coming on the heels of the Caribbean Information and Credit Rating Services Ltd (CariCRIS) assigning a jmA+ rating to NCB Capital Markets, the regional brokerage house will on Wednesday open a $6-Billion bond, providing its investors with another opportunity for financial growth. NCB Capital Markets will offer this bond between May 10 and 31 to all investors. The required minimum investment will be $100,000 and investors will earn 8.5 per cent per annum for a period of three years with quarterly interest payments.

“We like to listen to our clients and that constantly leads us to finding new ways to offer value to them,” said Kerry Spencer, the company's Assistant Vice-President – Wealth Management.

“This new bond, along with our Income Optimizer unit trust product launched in February, is just another way for us to demonstrate that,” she said.

NCB Capital Markets along with its sister company in Cayman which represents the wealth, asset management and investment banking arm of the NCB Group contributed 23 per cent of the Group's overall operating income. This made it the second highest contributor to the Group's earnings for the period ended March 31, 2017.

“The company received a local jmA+ rating with a positive outlook for a debt issue of circa $16 billion, which indicates good creditworthiness and underscores the business strength in Jamaica and its status as an emerging player in the Caribbean,” Spencer added, noting that investors are now able to monetise this strength.

Funds raised from the bond offer, Spencer noted, will aid the company in pursuing various opportunities within the region. In addition to Jamaica, NCB Capital Markets has a market presence in the Cayman Islands, Trinidad and Tobago, and Barbados.

Source:
Jamaica Observer
Friday May 5, 2017

http://www.jamaicaobserver.com/business-report/ncb-capital-markets-to-whet-investors-8217-appetites-with-new-6-b-bond_97832?profile=1056