NCB Financial Group Limited Advises of Transaction Upsize

25/09/2020 00:00:00   |  

Further to the release on September 22, 2020, NCB Financial Group Limited advises that the Board of Directors of National Commercial Bank Jamaica Limited (a wholly owned subsidiary) has approved an upsizing of the Securitization of its Diversified Payment Rights to up to US$250,000,000.00 (TWO HUNDRED AND FIFTY MILLION UNITED STATES DOLLARS) following an oversubscription of the transaction.

The transaction will be rated by FITCH Ratings and placed in the International Private Placement Market by Westwood Capital LLC, as Arranger. The transaction is expected to close by September 30, 2020.

  

About NCB Financial Group
NCB Financial Group Limited (“NCB”) was incorporated in April 2016 to be licensed under the Banking Services Act as the financial holding company for National Commercial Bank Jamaica Limited (“NCBJ”). NCB is the largest and most profitable financial services group in Jamaica with roots dating back to 1837. Through the bank and its wealth management, life and general insurance, and offshore banking subsidiaries, NCB provides a wide array of financial products and services to meet the needs of individual and business clients. The NCB Group includes NCBJ, NCB Capital Markets Limited and its subsidiaries in Barbados and Cayman, NCB Insurance Company Limited, NCB (Cayman) Limited, Clarien Group Limited and its subsidiaries in Bermuda, Guardian Holdings Limited and its subsidiaries as well as NCB Global Finance Limited in Trinidad and Tobago. 


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NCB Financial Group Limited
32 Trafalgar Road | Kingston 10 | Jamaica W.I. 
www.myncb.com

Nichole Brackett Walters, Manager – Group Marketing and Communications Unit
Tel| 876-935-2342; Email: [email protected]

Jacqueline De Lisser, Head - Group Investor Relations, Performance Monitoring & Planning 
Tel| 876-935-2540; Email: [email protected]