News Release
28 August 2003
TERM SHEET FOR GOVERNMENT OF JAMAICA
FIXED RATE 11.75% US$ DENOMINATD LOCAL BOND 2006
ISSUER
Government of Jamaica
AUTHORITY
The Loan Act, 1964 as amended, and the Local
Registered Stocks Act.
OFFER VOLUME
Unlimited
PURPOSE
To finance the Government’s budgetary
requirements
SUBSCRIPTION PERIOD
September 2 – September 5, 2003
MATURITY
October 5, 2006, with an option to extend to
October 5, 2008, subject to three (3) months
notice.
INTEREST RATE
Fixed at 11.75%
PRINCIPAL PAYMENTS
Principal will be repaid in full at maturity on
October 5, 2006, if the Bond holder does not
exercise the option for extension.
INTEREST PAYMENTS
The first interest payment will become due and
payable after six (6) months on March 05, 2004.
Thereafter, interest will be paid half-yearly on
September 05 and March 05, until maturity on
October 05, 2006.
TAXATION
Taxable
INSTRUMENT TYPE
Registered and transferable
PRUDENTIAL
Will not qualify as a liquid asset.
BUSINESS DAY
In the event that a payment day occurs on a day
other than a business day, such payments will
be made on the business day preceding that
date.
COMMISSION
10 Cents per US$100
REGISTRAR & PAYING AGENT
Ministry of Finance & Planning
Debt Management Unit
Ministry of Finance & Planning