Financial services units of Sagicor Group, Sagicor Investments Jamaica Ltd. (SIJL) and Sagicor Bank Jamaica Ltd. (SBJL), have secured $180 million through equity financing.
The proceeds from the offering will be used for refinancing one of the company’s existing debt.
With the total equity financing, Sagicor Investments landed $85.6 million and $34 million in credit and Sagicor Bank secured $66 million in syndicated credit.
The equity offering was taken up by local banks, institutional investors and retail clients.