Jamaica jumps after double bond bolt-on

Jamaica, Usain Bolt, LatAm, Caribbean
By Oliver West
17 Aug 2017

Jamaica underlined the issuer-friendly conditions on offer in EM bond markets this week after an oversubscribed tap of two bonds that left some investors with allocations of zero amid a simultaneous buy-back.

B3/B/B rated Jamaica added $505m to its $1.35bn 6.75% 2028s and $364m to its 7.875% 2045s on Tuesday after attracting around $3bn of orders and tightening pricing to virtually flat to the existing notes. Both bonds traded up in the secondary market.

“Jamaica has become as ...

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