Jamaica Launches Exchange Sequel

Jamaica Launches Exchange Sequel

Jamaica Corporate & Sovereign Strategy

Jamaica has launched a domestic debt exchange targeting JAD860bn ($9.12bn), its second such move in three years, as the government continues to struggle with its finances. As with the JAD700bn 2010 JDX deal, the new National Debt Exchange (NDX) will not involve a haircut on principal, but a reduction in interest rates and an extension of maturities. In the process open from Tuesday through February 21, holders of 25 series of JAD-denominated, USD-denominated and inflation-indexed bonds at variou

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