Sygnus Capital raises $3.1 billion to support itel expansion
Sygnus Capital Limited has successfully raised $3.1 billion by way of a private placement of bonds for Jamaican-based Outsourcing Management Limited (OML) trading as itelbpo, as part of the global expansion of the Jamaican-grown business process outsourcing (BPO).
Sagicor Investments Jamaica Limited joined as co-arranger for the transaction. Sygnus Capital, a subsidiary of Sygnus Group, acted as lead arranger through its investment banking unit.
The bonds were issued under the Financial Services Commission exempt distribution guidelines and were structured in two series across two tenors of five and three years. The proceeds from the private placement will be used by itelbpo to complete strategic acquisitions, fund capital expenditures and other working capital purposes.
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