By Wendy Van Sickle
Columbus, Ohio, Dec. 15 – Sagicor Financial Co. Ltd. completed a $150 million add-on to its 5.3% senior notes due May 13, 2028 (/BB+/BB-) at 101.5, according to a press release.
The additional notes constitute a reopening of the $400 million of notes sold in May.
J.P. Morgan Securities LLC and RBC Capital Markets, LLC were bookrunning managers with Jamaica Money Market Brokers Ltd. and Sagicor Investments Jamaica Ltd. as joint bookrunners for the Rule 144A and Regulation S transaction.
Proceeds will be used for general corporate purposes, including, but not limited to, supporting the growth of the company’s U.S. business.
Sagicor Financial operates in Latin America and the Caribbean region.
| Issuer: | Sagicor Financial Co. Ltd.
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| Amount: | $150 million add-on
|
| Issue: | Senior notes
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| Maturity: | May 13, 2028
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| Bookrunning managers: | J.P. Morgan Securities LLC and RBC Capital Markets, LLC
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| Joint bookrunners: | Jamaica Money Market Brokers Ltd. and Sagicor Investments Jamaica Ltd.
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| Coupon: | 5.3%
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| Price: | 101.5
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| First call: | May 13, 2024 at 102.65
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| Settlement date: | Dec. 15
|
| Ratings: | S&P: BB+
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| Fitch: BB-
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| Distribution: | Rule 144A and Regulation S
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| Original issue: | $400 million in May
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