Pulse Investments Ltd. has successfully concluded negotiations for a $1.1 billion seven (7) year Bond, arranged and underwritten by Barita Investments Ltd. This follows the Company’s capital raise of $1.2 billion earlier this year which was comprised of a $440 million short term loan and a $760 million note extended to the Company by a related party. This amount was used to acquire the Villa Ronai property and retire debt.
The $1.1 billion Bond financing will repay the $440 million short term loan and finance the first phase of a 30-unit single home real estate development in the valley at Villa Ronai, branded as Pulse Homes. Construction is planned to start later this year, once all related approvals are in hand.
JCSD Trustee Services will be Trustees to the Bond offer, and it is intended that the Bond will be listed on the private market of the Jamaica Stock Exchange.
Capital Options Ltd. are financial advisors to the transaction and MH&CO provided legal services.