Sygnus Credit Initiates $4.75 Billion Capital Raise to Strengthen Caribbean Business

Funding | Nov 23, 2024 | Sygnus Capital Ltd

Sygnus Credit Investments Limited (SCI) is launching a cumulative redeemable preference share offer, seeking to raise up to $4.75 billion to manage existing debt and fuel a robust deal pipeline in Jamaica. Sygnus Capital's Class H and I preference shares are offered with notable interest rates of 10% and 8%, respectively. This initiative is part of the company's ongoing expansion strategy focusing on scalable private credit solutions across the Caribbean. SCI's financial growth has been significant, reflected in its exceptional first-quarter profit increase of 562%. The offering aligns with Sygnus' ambitious growth trajectory, as they seek to grow their portfolio through strategic capital injection. Successfully raising capital and listing these preference shares on the Jamaica Stock Exchange would place SCI as one of the largest issuers behind JMMB Group Limited.

Sectors

Private Equity & Venture Capital
Financial Services

Geography

Jamaica – The focus of SCI's capital raise and investment efforts is particularly directed at the Jamaican market, where it plans to list its preference shares.
Caribbean – Sygnus Credit is expanding its private credit businesses across the Caribbean, targeting regional growth.

Industry

Private Equity & Venture Capital – Sygnus Credit Investments focuses on providing private credit solutions, a foundational element of the private equity and venture capital sector.
Financial Services – The activities described, including preference shares issuance and investment portfolio growth, fall under the broader financial services sector.

Financials

$4.75 billion – The total capital Sci intends to raise via preference shares offering.
$11 million – Debt that Sygnus Credit plans to repay using the proceeds from the capital raise.
$6.03 million – SCI's profitability as of the latest update.
$4.92 million – SCI's net profit in the first quarter.
$203.36 million – SCI’s asset base as recorded in the latest quarter.
10% – Interest rate for Sygnus's Class H preference shares.
8% – Interest rate for Sygnus's Class I preference shares.

Participants

Name	Role	Type	Description
Sygnus Credit Investments Limited	Issuer of Preference Shares	Company	A private credit provider in the Caribbean issuing preference shares to finance growth.
Sygnus Capital Limited	Co-founder and Chief Investment Officer	Company	Parent company of Sygnus Credit responsible for strategic investment decisions.
World Business Capital, Inc.	Financing Partner	Company	Provided a $10 million loan to SCI, guaranteed by the USDFC.
United States Development Finance Corporation	Loan Guarantor	Government	An agency of the United States federal government backing SCI's loan.
JMMB Securities Limited	Lead Broker	Company	Leading the brokerage for SCI’s public offering using the Moneyline platform.
Derrimon Trading Company Limited	Client of SCI	Company	One of the listed companies utilizing SCI's private credit facilities.
Seprod Limited	Client of SCI	Company	Consumer goods company availing SCI's credit services.
Tropical Battery Company Limited	Client of SCI	Company	Energy storage provider leveraging SCI’s financing solutions.
Express Catering Limited	Client of SCI	Company	Hospitality sector entity using SCI’s financial products.
Norbrook Equity Partners Limited	Client of SCI	Company	Private equity firm that utilized SCI facilities for portfolio growth.
Mailpac Group Limited	Subsidiary	Company	Subsidiary of Norbrook Equity Partners and benefactor of SCI's credit.