Business

NCB Capital Markets inks second deal with Port Authority

Sunday, March 24, 2019

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President and CEO of the Port Authority of Jamaica (PAJ), Professor Gordon Shirley (third left) signs a second agreement with NCB Capital Markets (NCBCM) Vice-President – Investment Banking Herbert Hall. The deal will see the investment brokerage house raising a $3.7-billion 25-year loan to bolster PAJ's cash flow, to assist with capital projects as well as clear a short-term loan. Looking on are PAJ's Senior Vice-President of Finance Elva Williams Richards (left); PAJ Vice-President of Finance Ishmael Leon; NCBCM Manager for Structuring and Origination Dwight Jackson; and PAJ's Assistant Vice-President of Management Accounting Candice Banjoko.

Having won the mandate as a result of a successful response to a request for proposal that was issued by the Port Authority, NCB Financial Group investment house NCB Capital Markets Limited recently tapped the market, securing the stated funds by way of a private placement on behalf of the authority. This represents the second financial arrangement between the two companies in recent years.


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