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NCB Financial Group's headquarters on Trafalgar Road in New Kingston, Jamaica (File photo)

NCB Global Finance completes $1.5 billion bond rate for T&T gov’t

NCB Financial Group's headquarters on Trafalgar Road in New Kingston, Jamaica (File photo)

NCB Global Finance Limited (NCBGF) has closed a TT$1.5 billion fixed bond rate for the government of Trinidad and Tobago.

The Trinidad-domiciled subsidiary of the NCB Financial Group, made the announcement yesterday, March 16.

According to NCBGF, the bond matures in 20 years and has a coupon rate of 5.74 per cent per annum.

NCBGF Chairman and CEO of Jamaica-based NCB Capital Markets, Steven Gooden, said “The successful closure of today’s TTD 1.5 billion (approximately US$220 million) bond issue continues to be a tangible demonstration of NCB Financial Group Limited’s increased Pan Caribbean abilities through its partnership with Guardian Holdings Limited.

NCB Global Finance Chairman, Steven Gooden

“This partnership has also created significant group synergies and vertical integration in the investment banking, asset and wealth management space.”

The chairman said that the move was also testament to the value added to the financial group stemming from its regional aspirations.

The deal was made possible by leveraging relationships and support of stakeholders, said Head of Corporate and Investment banking at NCBFG, Marli Creese, who added “our investors stood by us and worked with us to obtain all approvals in a fairly short time frame.”

“As sole arranger of this transaction, we successfully executed this deal by leveraging relationships and widespread support from multiple stakeholders within the market.”

– NCBGF’s Head of Corporate and Investment banking, Marli Creese

The NCB Financial Group is based in Jamaica and has assets of US$12 billion, with a capital base in excess of US$1 billion and current market capitalisation exceeding US$3.1 billion.

NCB Financial Group is traded on the Jamaica and Trinidad and Tobago stock exchanges and has operations across the region to include Bermuda, Barbados and the Cayman Islands.