The government has raised US$350 million from the
international capital market to fund this year's budget.
Jamaica sold US$350 million worth of bonds maturing in 2019 at a discounted price of $97.498 million.
The bond carries a coupon of 8% and a yield-to-maturity of 8.375% or 417 basis points over comparable U.S. Treasuries.
The bond has a 10-year average life with three equal amortization payments made in 2017, 2018 and 2019.
Jamaica has "B" credit rating from Standard & Poor's; "B1" from Moody's Investors Service; and "B+" from Fitch Ratings.
Deutsche Bank and Morgan Stanley are lead managers of the deal.
Jamaica sold US$350 million worth of bonds maturing in 2019 at a discounted price of $97.498 million.
The bond carries a coupon of 8% and a yield-to-maturity of 8.375% or 417 basis points over comparable U.S. Treasuries.
The bond has a 10-year average life with three equal amortization payments made in 2017, 2018 and 2019.
Jamaica has "B" credit rating from Standard & Poor's; "B1" from Moody's Investors Service; and "B+" from Fitch Ratings.
Deutsche Bank and Morgan Stanley are lead managers of the deal.
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