The Bank of Jamaica, BOJ, has reopened three bonds totaling $35 billion with the purpose of financing the government’s budgetary requirements.
The three instruments were announced by the Central Bank on their website last week.
Chevon Campbell tells us more.
The largest bond, at $18 billion, will provide a fixed interest rate of 11.9 percent per annum.
The first interest payment will become due and payable on June 11, 2025.
Thereafter, interest will be due and payable half-yearly on December 11 and June 11, at the fixed interest rate until maturity on December 11, 2030.
That’s a tenor of five years and eight months.
The second instrument, valued at 12 million dollars, has an interest yield of 7.5 percent per annum.
The first interest payment will become due and payable on August 28, 2025.
Thereafter, interest will be due and payable half-yearly on February 28 and August 28 until maturity on February 28, 2035.
That’s a tenor of nine years and ten months.
The final bond is valued at 5 billion dollars, with a fixed interest rate of 8.25 percent per annum.
The first interest payment will become due and payable on September 18, 2025.
Thereafter, interest will be due and payable half-yearly on March 18 and September 18, until maturity on March 18, 2040.
All three instruments have a subscription date of Friday, April 25, 2025.
The settlement date is set for Tuesday, April 29, 2025.
The minimum bid amount is $1000.
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