JTC has supported CEIBA Investments on its completion of a €25m, 10%, senior unsecured convertible bond issue due for repayment on 31 March 2026.
CEIBA, part of Aberdeen Standard Investments, was incorporated in Guernsey as a non-cellular company in 1995 and was admitted to the Specialist Fund Segment of the Main Market of the London Stock Exchange in 2018.
Its primary focus is on Cuban real estate assets. Its principle investments are in the Miramar Trade Centre, Havana’s principle business centre; the Meliá Habana hotel in Havana; the Meliá Las Amèricas, Meliá Varadero and Sol Palmeras hotels in Varadero; the Meliá Trinidad Península hotel in Trinidad; and an industrial logistics complex development in the Special Development Zone of Mariel in Cuba.
John Herring, Chairman of the Board of Directors of CEIBA, said: “We are really encouraged to have received this support from our existing shareholder base and new investors, and thank Carey Olsen and JTC for the legal and administrative support we received in Guernsey to close this transaction and list the bonds on The International Stock Exchange.”