The NCB Financial Group Ltd (NCBFG) recently announced that its T&T subsidiary, NCB Global Finance Ltd (NCBGF), closed a $1.5 billion Fixed Rate Bond for the Government of the Republic of Trinidad & Tobago (GORTT).

The Bond matures in 20 years and carries a coupon rate of 5.74 per cent per annum.

Marli Creese, Head of Corporate and Investment banking at NCBGF said, “As sole Arranger of this transaction, we successfully executed this deal by leveraging relationships and widespread support from multiple stakeholders within the market.”

He continued, “Our investors stood by us and worked with us to obtain all approvals in a fairly short time frame.”

Also commenting on the transaction was Steven Gooden, CEO of Jamaica based NCB Capital Markets Ltd and Chairman of NCB Global Finance Ltd, who remarked, “Over six years ago, we acquired a merchant bank in Trinidad, NCB Global Finance Ltd, and today we are pleased to see that our regional aspirations continue to bring value to our group and our region.”

Gooden noted that the successful closure of $1.5 billion (approximately USD $220MM) bond issue continues to be a tangible demonstration of NCB Financial Group Ltd’s increased Pan Caribbean abilities through its partnership with Guardian Holdings Ltd.

In 2019, NCB Financial Group finalised the acquisition of an additional 74.23 million shares in Guardian Holdings Ltd (GHL). NCBFG now owns 62 per cent of GHL.

Gooden said the partnership has created significant group synergies and vertical integration in the investment banking, asset and wealth management space.

NCB Financial Group Ltd is head-quartered in Jamaica with assets of USD $12 billion, a capital base in excess of USD $1 billion and a current market capitalisation in excess of USD $3.1 billion.

NCB Financial Group is publicly traded on both the Jamaica and Trinidad & Tobago Stock Exchanges.

With operations in Jamaica, Bermuda, Barbados, the Cayman Islands and T&T, the organisation is described as a “pan-Caribbean financial conglomerate.”

Through its shareholding in GHL, NCBFG also has insurance operations in over 20 territories including the Dutch Caribbean.

Over the last twenty-seven months, NCB Capital Markets Ltd, parent of NCB Global Finance Ltd, has closed approximately USD $2.5 billion in capital market and structured finance transactions throughout the region.

Recently, NCB Capital Markets Ltd successfully executed Jamaica’s largest IPO in history—Trans Jamaica Highway Ltd, a public equity transaction and also funded the construction of a major, new landmark facility on the East Coast of Demerara, Guyana.