The Jamaica Broilers Group (JBG) has secured a $15.1-billion bailout led by NCB Financial Group, a rescue package needed to stabilise the company after catastrophic losses in its US operations brought it to the brink of collapse.

The financing deal, announced late Wednesday, is designed to provide the distressed agribusiness with the liquidity and strategic runway to execute a rigorous turnaround plan. The package comprises a combination of new loans and a complex bond restructuring arranged by NCB’s corporate and investment banking teams.

The proposed solution includes $6.4 billion in loans from National Commercial Bank Jamaica Limited (NCBJ), in addition to NCB Capital Markets (NCBCM) arranging $8.7 billion in multi-tranche bonds extending up to 14 years. The NCB team also led negotiations with other domestic creditors of JBG in resetting financial covenants and modifying the collateral security package. This is expected to provide JBG with the stability and runway required to execute its recovery strategy, reinforce internal controls, and return its operations to sustainable performance, while supporting the continued growth of its local operations.

The bailout follows the discovery of severe accounting problems in the company’s US segment, which led to massive losses. In contrast, JBG’s Jamaican operations have remained profitable, a key factor in securing the financial support.

“JBG is one of Jamaica’s most significant indigenous agribusiness companies, with a critical role in national food security, employment, and rural livelihoods,” said Angus P Young, CEO of NCBCM in a release accompanying the development. “Our support is grounded in the strength of the company’s core Jamaican operations and the decisive corrective actions now underway. We are encouraged by the approach being taken to address the matters identified in the group’s US segment and have designed bespoke financing solutions aligned with JBG’s specific recovery and capital needs.”

The financing package is contingent upon the execution of this corporate overhaul. In response to the conditions of the bailout, Group President and CEO Christopher Levy outlined the specific steps being taken.

“We are implementing a disciplined turnaround plan that places governance, oversight, and operational efficiency at the core,” said Levy. “We have strengthened leadership, restored financial controls, engaged auditors with specialised sector experience, and brought our US operations under the direct supervision of the group’s Jamaican based leadership. With NCB’s support, we are confident in our ability to regain momentum and rebuild shareholder value.”

JBG has played a central role in Jamaica’s agricultural and food production landscape for decades, supplying poultry, eggs, feed, and other essential agribusiness services that support national resilience and rural communities.

“With more robust corporate governance, transparency, and disciplined execution, we believe that JBG is well positioned to recover and deliver value to stakeholders and the wider economy,” Young added. “This $15.1-billion deal is a tangible demonstration of the scale and range of NCB Financial Group’s capabilities.”