Tuesday 24 November, 2020

NCB subsidiary closes US$200 million bond for Trinidadian government

Steven Gooden, CEO of NCB Capital Markets Limited, the parent company of Trinidad-baseed NCB Global Finance.

Steven Gooden, CEO of NCB Capital Markets Limited, the parent company of Trinidad-baseed NCB Global Finance.

NCB Global Finance Limited, a NCB Financial Group subsidiary in Trinidad and Tobago, has successfully closed a TT$1.5 billion fixed-rate bond for the government of the twin-island republic.

The bond matures in 20 years and carries a coupon rate of 5.74 per cent per annum.

"The successful closure of today’s TT$1.5 billion (approximately US$220 million) bond issue continues to be a tangible demonstration of NCB Financial Group Limited’s increased Pan Caribbean abilities through its partnership with Guardian Holdings Limited," said Steven Gooden, CEO of NCB Capital Markets Limited, the parent company of NCB Global Finance.

Head of Corporate and Investment banking at NCB Global Finance, Marli Creese said the company successfully executed the deal by leveraging relationships and widespread support from multiple stakeholders within the market.

Gooden further commented that NCB Financial Group’s partnership in Trinidad started six years ago, with the acquisition of a merchant bank, later renamed NCB Global Finance Limited.

He said the partnership has also created significant group synergies and vertical integration in the investment banking, asset and wealth management space.

“Today we are pleased to see that our regional aspirations continue to bring value to our group and our region,” said Gooden, who also serves as chairman of NCB Global Finance Limited.

“At NCB, we have built a regional vertically integrated financial services group. Over the last 27 months, NCB Capital Markets Limited has closed US$ 2.5 billion in capital market and structured finance transactions throughout the region,” Gooden added.

For instance, NCB Capital Markets successfully executed Jamaica’s largest IPO in history – Trans Jamaica Highway Limited, a public equity transaction and also funded the construction of a major, new landmark facility on the East Coast of Demerara, Guyana.

NCB Financial Group is headquartered in Jamaica with assets of US$12 billion; a capital base in excess of US$1 billion and a current market capitalization in excess of US#3.1 billion.

The company is publicly traded on both the Jamaica and Trinidad and Tobago stock exchanges.

With operations in Jamaica, Bermuda, Barbados, the Cayman Islands and Trinidad and Tobago, it is a pan-Caribbean financial conglomerate. Through its shareholding of approximately 62 per cent in Guardian Holdings Limited, NCB Financial Group Limited also has insurance operations in over 20 territories including the Dutch Caribbean.

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