Jun 2022 Financial News

FCGFH - Notice of IDB Arrangement

Jun 28, 2022

On Monday, June 27, 2022, the Board of First Citizens Group Financial Holdings Limited approved a transaction to be negotiated with IDB Invest for senior unsecured financing of up to US$175 million with tenor of up to 7 years.

The purpose of this financing is to support First Citizens strategy to:

1. grow our low and middle-income household mortgage portfolio
2. implement our digital transformation and investments in digital and electronic products and services, and 
3. expand out lending capability to Small and Medium Enterprises.

First Citizens has also entered into an agreement for technical advisory services with IDB Invest for the development of a comprehensive sustainable finance strategy to fund Environment, Social and Governance initiatives.

The Trinidad and Tobago Stock Exchange Limited
Tuesday 28th June, 2022