Bondholders to Vote on Second Extension for Coffee Giant’s Debt

Bondholders to Vote on Second Extension for Coffee Giant’s Debt

Specialty Coffee Investments, linked to Michael Lee-Chin, seeks another delay in repaying its bond debt. The bondholders will decide next Tuesday if the repayment deadline should be pushed to October 2025. This would mark the second extension after missing the previous deadline in April 2024. The bonds, issued in 2021, were meant to refinance earlier debt, including funds for acquiring the Mavis Bank Coffee Factory. The factory, a major player in Jamaica Blue Mountain coffee production, has longstanding international trade ties. Despite the urgency, no reason has been provided for this new extension request. The decision now lies in the hands of the bondholders.

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