Jamaica Broilers Group Limited (JBG) has advised that the Company has completed a Debt Purchase and Novation Agreement with the Bank of Nova Scotia Jamaica Limited (“the Bank”) and the West Indies Petroleum Terminal Limited (“WIPT”) under which:
1. The Company sold and the Bank purchased WIPT’s outstanding current indebtedness to the Company of US$ 10,571,428.57; and
2. The Company novated its rights and obligations under certain loan and security documentation with WIPT (in respect of the said indebtedness) to the Bank.
