VM bond now listed on JSE
VM Investments Limited (VMIL) officially listed its recent bond offering on the Jamaica Stock Exchange (JSE), marking a significant milestone for the company as it looks to drive growth and deepen its impact in the local financial sector.
Speaking during the listing ceremony held last Thursday, Dwight Jackson, assistant vice-president for capital markets at VM Wealth, shared that the successful bond raise is not only a vote of confidence from investors, but a catalyst for the next chapter of growth at VMIL.
“The proceeds from this bond offering will allow us a level of financial flexibility that would not have been possible before, allowing us to act boldly — seizing new opportunities, supporting economic development, and delivering exceptional value to our clients, partners, and shareholders,” Jackson said.
The bond, originally set to raise $5.34 billion, saw exceptional demand from the investing public, resulting in an oversubscription of approximately $1.2 billion.
The capital raised through the bond will be strategically used to finance new projects, maintain robust liquidity, and support the company’s continued expansion through acquisitions and private equity investments, laying a strong foundation for sustainable, long-term growth.
The bond offer, after opening on December 19, 2024, was extended past its initial closing date of December 27, 2024, due to strong demand from the market. It, however, closed on January 10, 2025. VMIL’s subsidiary, VM Wealth Management Limited, was the sole broker and arranger for the offer.
CEO of VM Investments Ltd Rezworth Burchenson, reiterating the company’s commitment to offering value, said it will continue to provide access to sustainable capital generation opportunities in a bid to fuel growth for all its clients.
“In these times, institutions need liquidity, they need capital, and they need scenario planning. We all know that the next few years are shaping up to be very challenging for the local economy. My encouragement to all principals is to use the JSE as a means to raise capital,” Burchenson said.
“Based on the current trend, there is an overwhelming demand for well-structured solutions, and we want to play our role to ensure that the benefits not only redound to VMIL and the JSE but contribute to the overall robustness of the Jamaican economy,” he stated.
