International Coffee Taster, Norman Grant, has been awarded the designation of Q-Grader from the Coffee Quality Institute (CQI) Boot Coffee Campus in San Francisco, California.
The first Jamaican from.
Businessman and investor Michael Lee-Chin is to meet with Portland Holdings bondholders for a discussion on the company’s liquidity and ending of the hiatus of dividends from NCB. It comes amid delayed payments on bonds issued by Portland. Lee-Chin.
The Government of Jamaica (GOJ) has overseen the divestment of several government assets which are currently underperforming. These include Wallenford Coffee Company, most of the sugar estates, so.
Portland Barbados Limited, part of billionaire Michael Lee-Chin’s Portland group of companies, is seeking to raise up to US$4 million, or nearly J$600 million, in a bond offer. Some shares in NCB Financial Group Limited, NCBFG, and the Lee-Chi- owned swanky Trident Castle villas in the parish of Portland in Jamaica – the parish of Lee-Chin’s birth – are being put up as security for the bond.
The amount of NCBFG shares being used as collateral is equivalent to 60 per cent the value of the bond debt being sought, but with a 40 per cent margin. The prospectus for the bond offer notes that AIC Barbados, the gurantor of the senior secured notes placement, will secure the offer with the first mortgage over Trident Castle, as well as “execution of Jamaica Central Securities Depository pledge form by the guarantor in relation to NCBFG ordinary shares with market value equivalent to 0.6 (times) the principal amount; subject to a maintenance margin of 0.4 (times)”.