Term Sheet for Government of Jamaica
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News Release 29 July 2004
TERM SHEET FOR GOVERNMENT OF JAMAICA FIXED RATE 16.85% REGISTERED BOND 2006 (SERIES C)
ISSUER Government of Jamaica
AUTHORITY The Loan Act, 1964 as amended, and the Local Registered Stock Act.
OFFER VOLUME Unlimited
PURPOSE To finance the Government’s budgetary requirements
SUBSCRIPTION DAY July 30, 2004
TENOR 25 months MATURITY August 31, 2006
INTEREST RATE Fixed at 16.85% p.a.
PRINCIPAL PAYMENTS Bullet payment at maturity on August 31, 2006
INTEREST PAYMENTS The first interest payment will become due and payable after four (4) months on November 30, 2004. Thereafter, interest will be paid quarterly on February 28, May 31, August 31 and November 30, until maturity on August 31, 2006.
The final interest payment will cover the period May 31, 2006 to August 31, 2006, and will be paid on August 31, 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 J$100
REGISTRAR & PAYING AGENT Ministry of Finance & Planning
Debt Management Unit Ministry of Finance & Planning News Release 29 July 2004
TERM SHEET FOR GOVERNMENT OF JAMAICA VARIABLE RATE INVESTMENT BOND 2009/2010 (SERIES J)
ISSUER Government of Jamaica
AUTHORITY The Loan Act, 1964 as amended.
OFFER VOLUME Unlimited
PURPOSE To finance the Government’s budgetary requirements
SUBSCRIPTION DAY July 30, 2004
TENOR 67 months
MATURITY February 26, 2010
INTEREST RATE Fixed at 15.00% p.a. for six (6) months, then interest will be paid at a variable rate of 1.50 percentage points above the weighted average yield rate applicable to the Government of Jamaica Six month Treasury Bill Tender, held immediately prior to the commencement of each quarterly interest period, until maturity on February 26, 2010.
PRINCIPAL PAYMENTS Principal will be repaid at maturity February26, 2010
INTEREST PAYMENTS The first interest payment will become due and payable after six (6) months on January 31, 2005. Thereafter, interest will be paid quarterly on April 30, July 31, October 31 and January 31, until maturity on February 26, 2010.
The final interest payment will cover the period October 31, 2009 to February 26, 2010, and will be paid on February 26, 2010. 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 J$100
REGISTRAR & PAYING AGENT Ministry of Finance & Planning
Debt Management Unit Ministry of Finance & Planning