B.E.L. announces $25Million Series 6 Debentures

Dawn Sampson-Nunez

There is one more report on Belize Electricity Limited. The company has announced an offering of twenty-five million dollars in series six debentures to shareholders in the government-owned company.  While the bonds are being advertised to series three holders since May fifth, B.E.L. says it has been generating the interest of investors who are willing to take up the offering.

Dawn Sampson-Nunez, Manager, Corporate Services, B.E.L.

“We have as of may fifth, Monday, we have opened and offered a series six debenture offer to raise twenty-five million dollars and that funds will be used to refinance the series three debentures at a lower interest rate. It is in the interest, again of our shareholders, to ensure that the cost of operating the company, the financing cost, is at the lowest possible rate. So we are offering a still attractive rate of six point five percent under the series six debentures. And for any interested persons, the prospectus is available on the website. We are currently encouraging our series three debenture holders to take up on the opportunity and to reinvest the funds that they currently have invested in the company, in the series six offer. So far, we’ve gotten a lot of interests so we are very confident that it will be a successful offering.”

The debentures will be used to defray the company’s operational expenses.