Buyside Likes Jamaica Spread

Buyside Likes Jamaica Spread


Jamaica has aimed to relieve some of its refinancing burden, drawing investors to a $400m retap of the 8.00% of 2019 bond offered at a juicy concession. Investors saw a 50bp-60bp premium to recent levels, and put in for $1bn in orders for the deal that more than doubled the bond’s total size. The B3/B minus sovereign reopened the 8.00% 2019 bond at 100.256, to yield 7.95%, toward the tight end of 8.00% area guidance. The bond was trading up at 101.0-101.4 Monday afternoon, according to traders.

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