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San Pedro Town Council 2024 Series I Municipal Securities
- San Pedro Town Council
Disclaimer
This Prospectus is issued by the San Pedro Town Council (SPTC) to support its Initial Public Offering (IPO) of the SPTC 2024 Series I Municipal Securities, available exclusively to Accredited Investors. This Preliminary Prospectus provides essential information about Municipal Securities and is intended for Accredited Investors only. Please note that the information is subject to completion or amendment. The Municipal Securities cannot be sold until the Final Prospectus is approved and filed with the Financial Services Commission. However, investors may express their intention to purchase the securities at this stage.
Amount
$28,000,000.00
Availability
Expression Of Interest
Who Can Purchase
Accredited Investors
Tranches
| Tranches | Amount ($'000) | Maturity Years | Coupon Rate (%) |
|---|---|---|---|
|
1 |
5,000 |
5 |
4.50 |
|
2 |
5,000 |
10 |
5.50 |
|
3 |
8,000 |
15 |
5.75 |
|
4 |
10,000 |
20 |
6.00 |
|
Total/ Weighted Average |
28,000 |
14 |
5.57% |
Investor Criteria
- a financial institution licensed under the Domestic Banks and Financial Institutions Act;
- a bank licensed under the Domestic Banks and Financial Institutions Act or the International Banking Act or in a similar capacity under the laws of another jurisdiction;
- an insurance company registered under the Insurance Act or licensed under the International Insurance Act or licensed in a similar capacity under the laws of another jurisdiction;
- a registered company with permission to carry out the securities activity of trading in securities as principal or licensed in a similar capacity under the laws of another jurisdiction, where it is trading as principal;
- a registered company with permission to carry out the securities activity of managing securities or a company licensed in a similar capacity under the laws of another jurisdiction, where the company is purchasing for the account of a person who is an accredited investor;
- a regulated mutual fund or a mutual fund regulated in a similar capacity under the laws of another jurisdiction;
- an employee benefit plan with total assets in excess of ten million dollars (BZ$10,000,000) where the investment decision is made by a plan fiduciary which is a financial intermediary or an entity licensed in a similar capacity under the laws of another jurisdiction;
- an individual residing in Belize whose individual net worth, or joint net worth with the person’s spouse, exceeds two million dollars (BZ$2,000,000);
- an individual residing in Belize who had an individual income in excess of two hundred thousand dollars (BZ$200,000) in each of the two most recent years or joint income with that person’s spouse in excess of three hundred thousand dollars (BZ$300,000) in each of those years and has a reasonable expectation of reaching the same income level in the current year;
- a trust or other person other than an individual with total assets in excess of five million dollars (BZ$5,000,000) not formed for the specific purpose of acquiring the securities offered;
- the Government of Belize or any public authority established in Belize;
- the government of any foreign jurisdiction, or any agency of that government;
- a trust with total assets in excess of ten million dollars;
- any entity in which all the equity owners are accredited investors;
- any person residing outside of Belize who qualifies as an accredited investor (however defined) or has similar status, under the securities legislation of that person’s country of residence; or
- any person that is recognized or designated by the Commission as an accredited investor;
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