The government has reopened $17.5 billion in bonds on the market to assist in financing budgetary requirements.
The three bonds of varying values and maturity dates were listed by the Bank of Jamaica on Monday.
The subscription date for the instruments is set for Friday.
Chevon Campbell tells us more.
The notice for the bonds was provided by the Debt Management Branch of the Ministry of Finance and the Public Service, bearing the name of Financial Secretary, Darlene Morrison.
The first bond has an offer volume of $2 billion, with a minimum bid value of $1,000.
The 7.5 percent Fixed Rate Benchmark Investment Note is scheduled for auction on Friday, July 25, 2025.
The bond matures on February 28, 2035.
Investors will bid competitively for the nine-year, seven-month note, with pricing and yield determined through auction.
Interest will be paid semi-annually starting August 28, 2025.
Settlement is set for July 29, 2025.
Another two billion dollars is being sought through a reopened issue of its 8.25 percent Fixed Rate Benchmark Investment Note.
This long-term bond will mature on March 18, 2040, offering investors a fourteen-year and eight-month investment horizon.
Interest payments will be made semi-annually starting September 18, 2025.
Similarly, the Government of Jamaica will seek to raise 13.5 billion dollars through a reopened issue of its 9.6 percent Fixed Rate Benchmark Investment Note.
That note is also set to go on auction on Friday, with the bond maturing on November 21, 2031.
Interest on the six-year, four-month note will be paid semi-annually, starting November 23, 2025.
Unlike its longer-dated 2035 and 2040 siblings, this offer carries a significantly higher interest rate, reflecting the shorter tenor.
All bonds will be taxable, registered, and tradable, with settlement scheduled for July 29, 2025, through the Bank of Jamaica’s JamClear system.
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