National Commercial Bank Jamaica Limited (NCBJ) has advised that NCBJ has successfully completed a securitization transaction which closed on November 21, 2016, and generated financing of US$150,000,000.00, via the issuance of notes backed by future flows derived from international merchant voucher receivables acquired by NCBJ in Jamaica.
The notes were issued by Jamaica Merchant Voucher Receivables Limited, a special purpose vehicle incorporated under the laws of the Cayman Islands, in a private placement within the United States to qualified institutional buyers. The notes were assessed by Fitch, Inc and achieved a BB+ rating.
The notes have not been registered under the Securities Act of Jamaica and may not be offered or sold in Jamaica without registration or an applicable exemption under the said Securities Act and regulations.
