JN Fund Managers Limited has successfully arranged the execution of a J$900 million (US$5.78m) debt financing for FosRich Company Limited which is aiming to enter the PVC manufacturing business here.
A release yesterday from the JN Group said that FosRich Company Limited, a leading provider of electrical and lighting solutions, will be using the capital injection to begin operations in Guyana, with a particular focus on expanding its service offering in PVC manufacturing, transformer repairs and solar business.
The release said that the decision to raise debt capital reflects FosRich’s commitment to capitalize on growth opportunities in Guyana’s growing market while further diversifying its product and service portfolio.
“With a track record of delivering high-quality electrical solutions and a strong reputation for reliability, FosRich is well-positioned to capitalize on the growing demand for infrastructure development and maintenance in the region”, the release said.
Commenting on the successful debt raise, Cecil Foster, Chief Executive Officer of FosRich Company Limited said, “this raise will afford us the chance to finance the expansion plans of the company. The SOLID PVC pipeline of products we manufacture means a lot to us at FosRich, and by extension the country, as we are encouraging all Jamaicans to buy Jamaican, employ Jamaicans and build Jamaica”.
Natalie Brown, Head, Investment Banking at JN Fund Managers Limited, underlined the company’s commitment to supporting both large enterprises and small and medium enterprises in leveraging Jamaica’s capital market.
“JN Fund Managers has consistently served as a dependable financial ally, aiding businesses in meeting their capital requirements. The successful fundraising for FosRich further validates this reputation,” she said.
