Jamaica Places $350m Bond

Jamaica Places $350m Bond


In a long-anticipated return to the market, Jamaica has priced $350m in 2019 bonds with an 8.000% coupon at 97.498 to yield 8.375%, or UST plus 417bp. Guidance was 8.250%-8.375%. Principal will be repaid in three equal installments in 2017, 2018 and 2019. The B/B1 issuer had hinted at a tap when it went on a “non-deal” roadshow in February. Proceeds are for general budgetary purposes, with the EUR200m due next February. The plan is to raise about $600m this year in international capital markets

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