Access Financial Services Ltd. First Company to Access the Re-Launched Bond Market
History was created on October 18, 2013, when Access Financial Services Ltd. listed their 9% unsecured short term notes on the JSE Bond Market. The Jamaica Stock Exchange re-launched its Bond Market on Wednesday, June 26, 2013 at the Jamaica Pegasus Hotel. Four months later Access Financial Services Limited invited investors to invest in its 9% unsecured short term notes due November 2014. The Offer opened on Tuesday, October 8, 2013 and closed on Wednesday October 9, 2013 with the Company raising $102,500,000.
According to Mrs. Marlene Street Forrest; “this demonstrates the confidence that investors have in this company. No doubt this success has been achieved in part because investors have seen that the company has demonstrated, since listing on the Junior Market, an excellent record of compliance. Its track record of growth is also transparent. This is the power of the market! This is what the Exchange expects to bring to the Corporate Bond Market – ‘Access and Transparency’.
Mrs. Street Forrest re-iterated that “at the first Junior Market Listing ceremony, I said the Junior Market and the Company will, for some time be on the financial market’s ‘watch- list’. We have seen the transformational effect that that market has had on the companies that have listed, the investors that invested and in fact the benefits that have been derived by the general public. I wish to repeat that today the Corporate Bond Market and this Company will be on the financial market’s ‘watch-list’. Let us all understand that these additions to the market place will have positive, powerful and long term benefits for all Jamaican”.
Mr. Marcus James, CEO of Access Financial Services, spoke to the fact that Access was a trail blazer within their field, as they were one of the first companies to enter the micro and small business loan market and the first to list on the Junior Market and now the first to access the re-launched bond market. He thanked all those who assisted in the effort.
Mrs. Tania Waldron Gooden, Senior VP, Corporate Affairs, Mayberry Investments Ltd., speaking at the same event congratulated Access Financial for being a trail blazer in the financial markets. She went on to say it was a proud moment for Mayberry as the Brokerage House that brought Access to list on the Junior Market and now they stand with Access as they list on the Bond Market. She also made special mention of the Financial Services Commission that assisted in the listing process and congratulated them for their hard work and dedication to the market.
