Jamaica accepts tenders of $208.57 million of four series of notes

By Wendy Van Sickle

Columbus, Ohio, Aug. 15 – The government of Jamaica said it received and accepted tenders of $208,569,377 of four series of notes.

The offer began Aug. 8 and ended at 5 p.m. ET on Aug. 14, with settlement expected on Aug. 18.

The accepted amounts and the purchase prices for each $1,000 principal amount were as follows:

• $19,242,000, or 6.87%, of its $187,713,498 outstanding ($750 million issued) 8% amortizing notes due 2019 with a purchase price of $1,065;

• $121,819,377, or 91.29% of its $133,435,779 outstanding ($161,904,731 issued) 8½% amortizing notes due 2021 for a purchase price of $1,140;

• $1,026,000, or 0.41%, of its $250 million of 11 5/8% notes due 2022 for a purchase price of $1,275; and

• $66,482,000, or 26.59%, of its $250 million of 9¼% notes due 2025 with a purchase price of $1,305.

Holders will also receive accrued interest up to but excluding the settlement date.

Following settlement, there will be outstanding $260,927,400 of the 2019 notes; $11,616,402 of the 2021 notes; $248,974,000 of the 2022 notes; and $183,518,000 of the 2025 notes.

The offer did not require a minimum amount of tenders but is contingent on the closing of the company’s notes offering announced on Aug. 14.

Global Bondholder Services Corp. (212 430-3774, 866 470-3900 or http://gbsc-usa.com/Jamaica/) is the information and tender agent. The dealer managers are Citigroup Global Markets Inc. (212 723-6106 or 800 558-3745) or BofA Merrill Lynch (646 855-8988 or 888 292-0070).

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