Durrant Pate/Contributor

Mayberry Jamaican Equities is tapping the local bond market for upwards of J$2.25 billion to repay existing indebtedness amounting to J$1.4 billion of two previous bond offers.

The two bond offers in question are the 8.75% FR Secured Bond Tranche 1, due October 2026 and the 10% FR Secured Bond Tranche 2, due this month and to partially repay a revolving margin loan facility. The invitation is for an aggregate principal amount of up to J$1.5 billion with an option to up-size by $750-million to J$2.25 billion.

The invitation opens on August 24, 2026 and will close on September 10, 2026. It is expected that the Secured Bonds will be admitted to listing on the Bond Market of the Jamaica Stock Exchange within 21 days of the closing date.

Features of the bonds

The bonds have a tenor of 36 months and carry interest of 9.50% per annum. The minim subscription is J$20-thousand and further increments of no less than J$10-thousand.

The bonds are covered from the proceeds of Mayberry’s diversified and liquid asset base, which are investments in associates and marketable securities. This aligns with Mayberry’s dual-engine investment model to hold long-term, high-conviction investments in leading companies and then to maintain an active trading book.

The benefit to bond investors tend to be liquid as well as diversified across industries ranging from general insurance through IronRock Insurance to power generation through Mayberry’s holding in Wigton Energy. Furthermore, these Secured Bonds guarantee contractual quarterly interest payments.

Unlike dividends, which remain subject to board discretion, interest is a binding obligation. Allocating capital to these Secured Bonds should lower your portfolio’s overall risk profile and position you to better achieve your financial objectives.