Dolla Financial has extended its bond offering.
DOLLA Financial Services Limited has decided to extend its $1-billion bond offering considering the disruption caused by Hurricane Melissa.
The company made the announcement on Tuesday when it noted that the closing date was adjusted from November 13 to December 31, subject to the company closing the offer at an earlier date. The prospectus was published on October 15 and officially opened on October 23. The microcredit company is seeking to raise $1 billion across two tranches, with an option to upsize the offer to $1.5 billion.
The bond proceeds are meant to address the recent $570.12-million bond maturity and support its growing loan portfolio. Dolla’s consolidated loan portfolio stood at $1.05 billion in June 2023 when it went public on the Jamaica Stock Exchange (JSE). That portfolio reached $4 billion in December 2024 and spiked another 15 per cent to $4.58 billion by September 30.
That growth focus has been translated into tangible results as the company’s interest income f
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