Photo: ‘Access Granted’
Microfinance firm Access Financial Services last week closed its bond offer to raise $102 million on the Jamaica Stock Exchange (JSE) Bond Market. Tania Waldron-Gooden, senior vice-president, corporate finance at Mayberry Investment Limited, lead broker of the bond issue, issues a cheque to Access CEO Marcus James (centre) and director Brian Goldson at a listing ceremony of the nine per cent bond held at the JSE offices on Harbour Street. The company intends to use the proceeds of the issue of the notes in order to expand its loan portfolio and for working capital and general corporate purposes. Access’s loan book stood at $776 million at the end of June 2013, up from $637 million a year earlier, while its capital base grew from $450 million as at June 30, 2012, to $540 million at the end of June 2013.
(Photo: Karl McLarty)
