Vote on Portland bond debt set for coming week
Published:Thursday | November 27, 2025 | 3:04 PMSteven Jackson - Senior Business Reporter
Bondholders are set to vote in December on terms for payment or an extension of the outstanding bonds issued by companies ultimately controlled by investor and chairman of Portland Private Equity, Michael Lee-Chin.
Arising out of a meeting convened on Wednesday by JCSD Trustee Services Limited, the trustee for the corporate notes, said a resolution will be put to bondholders in meetings to happen between December 2 and 11.
“So, no decisions were made, but I understand that the general consensus was that the bondholders were comfortable with the terms proposed,” Chairman of the Jamaica Stock Exchange Steven Whittingham said in response to Financial Gleaner queries.
“Those terms will form the basis of a resolution that bondholders will be asked to vote for in a series of meetings in December,” he said.
JCSD Trustee Services is a member of the JSE Group.
The debt in question relates to Portland bonds valued at some US$300 million, with phased maturity dates of August 2024, January 2025, August 2025, August 2026 and January 2027; and a $1.8-billion Specialty Coffee Investment Company bond.