SCI Announces Preference Shareholder Meeting to Extend Maturity

  • In a company release on the Jamaica Stock Exchange (JSE) on July 30, 2025, the Directors of Sygnus Credit Investments Limited (SCI) announced an invitation to its preference shareholders to a hybrid General Meeting on August 26, 2025, in Saint Lucia and Jamaica, to approve extensions and adjustments to the terms of its Class C and Class D Preference Shares, including extending maturity dates and revising dividend yields.
  • The company plans to obtain approval for the proposed variation of the Class D Shares (8% US$ Cumulative Redeemable Preference Shares) to extend maturity from December 22, 2025, to December 22, 2028, and to adjust the dividend yield from 8.00% to 7.50%.
  • Approval is also being sought for SCI’s Class C Shares (10.50% J$ Cumulative Redeemable Preference Shares) to extend maturity to December 22, 2028, and revise the dividend yield from 10.50% to 9.85%, opting to amend existing shares instead of issuing new ones to streamline the process.
  • The rationale for the Class D USD Preference Shares rate revisions is to continue providing attractive returns to shareholders while reflecting current market conditions, particularly the decline in the 3-year US Treasury yield from 4.80% at the time of the Offer to about 3.90% in July 2025. Similarly, the rationale for revising the Class C is to reflect the Bank of Jamaica’s policy rate decreasing from 7.00% to 5.75%, and Treasury Bill yields falling from between 7.91%–8.42% to approximately 5.19%–5.37% as of mid-2025.
  • SCI has demonstrated strong financial performance, with a 60.3% increase in net profit to US$6.97Mn for the first nine months of FY2025. It’s 9M 2025 results have desurpass its previous full-year earnings, driven mainly by growth from its Puerto Rican subsidiary Acrecent and record total investment income of US$13.22Mn. With over US$78Mn deployed in the first nine months and an investment pipeline exceeding US$100Mn, SCI appears well-positioned to expand its private credit platform regionally

(Source: SCI Company Release)