By Reshmi Basu
New York, Oct. 11 - The government of Jamaica priced $250 million of 20-year global bonds (B1/B) at 98.881 to yield 9 3/8% in a drive-by sale Tuesday, according to a market source.
The deal priced in line with price guidance for a yield in the 9 3/8% area.
This issuance completes the country's funding needs for 2005.
Morgan Stanley ran the global offering of Securities Exchange and Commission-registered bonds.
Issuer: Government of Jamaica
Amount: $250 million
Issue: Global bonds
Maturity: Oct. 17, 2025
Coupon: 9¼%
Issue price: 98.881
Yield: 9 3/8%
Pricing date: Oct. 11
Settlement date: Oct. 18
Bookrunner: Morgan Stanley
Ratings: Moody's: B1
| Standard & Poor's: B
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| Price guidance: | 9 3/8% area
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