NCB Financial Group Limited advises of the intention of its wholly owned subsidiary, National Commercial Bank Jamaica Limited, to raise up to US$175,000,000.00 (ONE HUNDRED AND SEVENTY FIVE MILLION UNITED STATES DOLLARS) by way of the Securitization of its Diversified Payment Rights.
The transaction will be rated by FITCH Ratings and placed in the International Private Placement Market by Westwood Capital LLC, as Arranger. The transaction is expected to close by September 30, 2020.
About NCB Financial Group
NCB Financial Group Limited (“NCB”) was incorporated in April 2016 to be licensed under the Banking Services Act as the financial holding company for National Commercial Bank Jamaica Limited (“NCBJ”). NCB is the largest and most profitable financial services group in Jamaica with roots dating back to 1837. Through the bank and its wealth management, life and general insurance, and offshore banking subsidiaries, NCB provides a wide array of financial products and services to meet the needs of individual and business clients. The NCB Group includes NCBJ, NCB Capital Markets Limited and its subsidiaries in Barbados and Cayman, NCB Insurance Company Limited, NCB (Cayman) Limited, Clarien Group Limited and its subsidiaries in Bermuda, Guardian Holdings Limited and its subsidiaries as well as NCB Global Finance Limited in Trinidad and Tobago
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