Jamaica Broilers pledges JB Ethanol against new IIC loans, obtains new working capital, debt refinance

In Jamaica, Jamaica Broilers Group secured a US$7 million loan from the Inter-American Investment Corporation (IIC) to provide working capital and pay down high-cost bank debt. The group said that it guaranteed the debt with its JB Ethanol business, which the group has invested $42 million in to date. The ethanol business, which uses sugar cane as a feedstock, has been solidly profitable for the past two years although the operation was closed for six weeks in February for maintenance and in response to low global ethanol prices.

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