“Curaçao Heritage Fund bonds oversubscribed!”
WILLEMSTAD – The Curacao Financial Group N.V. (‘cfg’) is excited to announce the oversubscription of the second bond issuance for the Curaçao Heritage Fund (‘CHF’ or “the Fund”).
There was an overwhelming interest from interested investors, mostly local private investors, foundations and financial institutions. A total of ANG 35 million in qualified subscriptions were submitted through MCB Bank, Vidanova Bank, Banco di Caribe, Amicorp Global Markets and PYGG – the five licensed brokers of the DCSX. This is more than double the amount that CHF was looking to raise (ANG 16.5 million).
The bonds are listed on the DCSX and offer an annual interest rate of 5.5% (paid out quarterly) which is tax free for residents of Curaçao and companies domiciled in Curaçao. The bonds have a duration of 5 years and are collateralized with first mortgage rights on all real estate properties in the portfolio.
The entire team at cfg but also shareholders of CHF are delighted with the outcome of this issuance and want to thank all parties involved that ensured a successful capital raising of these bonds. It was a truly multifaceted process involving the Bond Agent (Amicorp), five Brokers of the DCSX, the Legal Counsel and Listing Advisor (VANEPS), the DCSX, and the Central Bank of Curaçao and Sint Maarten (CBCS). Over the next few days, we will work with these partners to complete the transaction with the notary.