KINGSTON, Jamaica – RBC Capital Markets, in conjunction with RBC Merchant Bank (Caribbean) Limited, has successfully placed a US$300-million amortising bond issue for the Caribbean Development Bank (CDB) to bolster regional development and stimulate economic growth.
The 15-year fixed-rate bond bears interest of 4.375 per cent annually until maturity in 2027, and represents a significant investment inflow into the region, RBC said in a statement out of Port-of-Spain, Trinidad yesterday.
“Proceeds of the bond issue will be used to augment CDB's capital ratios further, particularly in the face of prevailing downward trending regional economic conditions and the marginal growth being experienced throughout the region,” the bank said.
