COK Sodality Co-operative Credit Union Limited (COK) is pleased to make available another Deferred Share Offer in order to raise Six Hundred Million Dollars ($600m).

This will be added to COK’s regulatory capital to improve its capital base and aid in the acquisition of a new Core Banking System. The subscription period is February 1, 2019, to January 31, 2020, and the terms are as follows:

  • Initial fixed interest rate is 7% per annum up to February 1, 2020.
  • The rate will reset every six months, at the average six-month Treasury Bill yield held prior to the commencement of each period. Plus tow hundred basis points.
  • The first dividend payment will come due and payable on March 1, 2019, and thereafter it will be payable monthly on the 1st fay of the month. 
  • Deferred Shares are offered at a price of J$1.00 per share.
  • Shares are redeemable in one bullet payment on February 1, 2024, at the purchase price.

Deferred Shares FAQs

Deferred Shares Terms

Deferred Shares Applications