JN Fund Managers Successfully Executes J$900m Bond Raise For Fosrich Company Limited
Cecil Foster (sitting at left), Chief Executive Officer of FosRich Company Ltd shakes hands with Brando Hayden (sitting at right), Managing Director of JN Fund Managers Ltd following a signing agreement to formalize the successful execution of J$900 million bond raise for FosRich Company Ltd. Sharing in the moment are (standing from left to right): Peter Knibb, Chief Financial Officer, FosRich Company Ltd; Tresan Martin, Marketing Officer, FosRich; Kerry-Ann Gray, Marketing Manager FosRich; Domenic Willams, Corporate Finance Analyst, JN Fund Managers Ltd; Howard Lewis, Credit Solutions Analyst, JN Fund Managers and Natalie Brown, Head of Investment Banking, JN Fund Managers Ltd. The signing took place on Wednesday, March 6 at the offices of JN Fund Managers on Belmont Road in Kingston.
JN Fund Managers Limited has successfully arranged the execution of a J$900 million debt raise for FosRich Company Limited.
FosRich Company Limited, a leading provider of electrical and lighting solutions, will be using the capital injection to commence operations in Guyana, with a particular focus on expanding its service offering in PVC manufacturing, transformer repairs and solar business.
The decision to raise debt capital reflects FosRich’s commitment to capitalizing on growth opportunities in Guyana’s burgeoning market while further diversifying its product and service portfolio. With a track record of delivering high-quality electrical solutions and a strong reputation for reliability, FosRich is well-positioned to capitalize on the growing demand for infrastructure development and maintenance in the region.
Commenting on the successful debt raise, Mr. Cecil Foster, Chief Executive Officer of FosRich Company Limited stated, “this raise will afford us the chance to finance the expansion plans of the company. The SOLID PVC pipeline of products we manufacture means a lot to us at FosRich, and by extension the country, as we are encouraging all Jamaicans to buy Jamaican, employ Jamaicans and build Jamaica”.
Natalie Brown, Head, Investment Banking at JN Fund Managers Limited, reaffirmed the company’s dedication to supporting both large enterprises and small and medium enterprises (SMEs) in leveraging Jamaica’s capital market.
“JN Fund Managers has consistently served as a dependable financial ally, aiding businesses in meeting their capital requirements. The successful fundraising for FosRich further validates this reputation,” she said.
