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Phillips to accept award in New York for US$2-B bond deal
Wednesday, February 10, 2016
KINGSTON, Jamaica — Finance and Planning Minister Dr Peter Phillips arrived in New York, today, to accept Jamaica’s award for Latin America Bond Deal of the Year at the 2015 International Financing Review (IFR) Americas Award Ceremony. According to a news release from the finance ministry, IFR has deemed the bond deal as “record-breaking” for 2015. In July 2015, the Government of Jamaica issued a US$2 billion dual-tranche bond in the international capital markets.
The transaction, according to the finance ministry, resulted in a reduction in the country’s debt to GDP ratio by approximately 10 percentage points.
In announcing Jamaica as the 2015 winner of the Latin America Bond Deal in the category of Emerging Markets, IFR noted that the US$2.0 billion deal represented Jamaica’s largest bond sale ever or some 14.6 per cent of the country’s 2014 GDP, a large sum for any country.
Quoting the head of Latin America Capital Markets Origination at Citigroup, Chris Gilfond, the IFR statement highlights: “Nobody comes close to 14 per cent in sum total of all their transactions, let alone in a single trade. Jamaica did it in a day.”
Phillips to accept award in New York for US$2-B bond deal
Wednesday, February 10, 2016
KINGSTON, Jamaica — Finance and Planning Minister Dr Peter Phillips arrived in New York, today, to accept Jamaica’s award for Latin America Bond Deal of the Year at the 2015 International Financing Review (IFR) Americas Award Ceremony. According to a news release from the finance ministry, IFR has deemed the bond deal as “record-breaking” for 2015. In July 2015, the Government of Jamaica issued a US$2 billion dual-tranche bond in the international capital markets.
The transaction, according to the finance ministry, resulted in a reduction in the country’s debt to GDP ratio by approximately 10 percentage points.
In announcing Jamaica as the 2015 winner of the Latin America Bond Deal in the category of Emerging Markets, IFR noted that the US$2.0 billion deal represented Jamaica’s largest bond sale ever or some 14.6 per cent of the country’s 2014 GDP, a large sum for any country.
Quoting the head of Latin America Capital Markets Origination at Citigroup, Chris Gilfond, the IFR statement highlights: “Nobody comes close to 14 per cent in sum total of all their transactions, let alone in a single trade. Jamaica did it in a day.”
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