NEW YORK, July 1 (IFR) - The government of Jamaica plans to
issue a US dollar-denominated bond with an average maturity of
10 years, according to one of the lead managers.
The sovereign, rated Caa3/B-/B-, has set initial price
thoughts of low 8% on the note, which has final maturity in 2025
but will amortize in three equal installments in 2023, 2024 and
Proceeds from the issue will be used to repay a 150m bond
maturing in 2014, refinance other indebtedness of the government
and new investments.
BNP Paribas and Citigroup are the bookrunners on the
transaction, which is expected to launch and price today.
(Reporting by Davide Scigliuzzo; Editing by Sudip Roy)