Mayberry Investments Launches BondBerry Tranche III Offering: A Secure Investment Opportunity

Mayberry Investments Limited (Mayberry) has officially announced the opening of its BondBerry Tranche III, offering investors a chance to participate in a secured bond issuance worth J$2.3 billion. The bond, which opened for subscription on January 31, 2025, will remain open until February 28, 2025. This latest offering provides an attractive interest rate of 10.25% per annum and comes with a two-year maturity period, set to mature 24 months from the issue date.

Key Features of the Bond Offering

• Interest Rate: 10.25% annually
• Term: 24 months
• Maturity Date: 24 months from the issue date
• Security: The bond is secured by a charge over Mayberry’s Secured Loan Book Pool
• Financial Covenants:
  • Maximum Leverage Ratio of 4.00x
  • Minimum Current Ratio of 1.20x
• Up-Size Option: Mayberry reserves the right to increase the bond offering by an additional J$1.15 billion, raising the total to J$3.45 billion.

Purpose of the Bond Issue

The proceeds from this bond offering will primarily be used to repay an existing J$2.282 billion, 11.00% Secured Bond that matures in January 2025. A portion of the funds will also be allocated to cover costs associated with the new bond issue.

Investor Advantages

Investors in BondBerry Tranche III stand to gain several key benefits, including:

• Flexibility: The bond can be redeemed at par without penalty by Mayberry, subject to a 30-day notice period.
• Tax Efficiency: If the bond is listed on the Jamaica Stock Exchange (JSE), transfers will be exempt from Transfer Tax and Stamp Duty.
• Quarterly Interest Payments: Bondholders will receive quarterly interest payments, with the first payment scheduled for March 31, 2025. Subsequent payments will be made on June 30, September 30, and December 3.

Subscription Details

• Issue Price: 100% of the face value of the bond
• Minimum Subscription: J$20,000, with increments of J$10,000
• Allotment: Applications will be processed on a first-come, first-served basis. If oversubscription occurs, Mayberry reserves the right to allot bonds on a pro-rata basis or another equitable method. Investors can apply via Real Time Gross Settlement (RTGS), Automated Clearing House (ACH), or manager’s cheque for smaller amounts. Detailed instructions are available in Mayberry’s offices or on the Jamaica Stock Exchange (JSE) website.

Investor Considerations

Mayberry encourages all prospective investors to consult with independent financial advisors to ensure they fully understand the tax implications and other relevant factors before proceeding with their investment.

Through this bond offering, Mayberry continues to provide valuable investment opportunities, supporting its commitment to financial stability and transparency for its investors.

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