Dec 2023 Financial News

JMMB Group Limited - Exploration of JMMB Group Senior Loan Funding with IDB Invest

Dec 07, 2023

EXPLORATION OF JMMB GROUP SENIOR LOAN FUNDING WITH IDB INVEST
JMMB GROUP LIMITED (JMMBGL)

The Trinidad and Tobago Stock Exchange Limited (TTSE) received notice from JMMBGL advising that they are considering a funding partnership with IDB Invest for potential financing of up to US$100 million to continue to support the Group’s strategic efforts towards

•  supporting the future growth opportunities of the Group’s MSME (including (women-led) initiatives;
•  contribute to the initial development and later growth of the group’s green loan portfolio in Jamaica; and
•  complement the Group’s digitalization strategies towards financial inclusion initiatives.

JMMBGL indicated that they recognize the significant responsibility that accompanies this potential engagement. The actual completion of the transaction is contingent upon various factors, including but not limited to market conditions, authorizations and approvals, and the satisfaction of customary closing conditions. As such, this disclosure serves as notice of their intent, recognizing the inherent uncertainties in such transactions as they remain committed to maintaining the highest levels of transparency and accountability throughout this process.

They also advised that this disclosure is made in the best interest of public transparency and does not constitute a commitment on either party to execute.
 

Source:
The Trinidad and Tobago Stock Exchange Limited
Thursday 7th December, 2023