KINGSTON, Jamaica – After a three-year absence, the Government of Jamaica today successfully returned to the domestic capital market with the three fixed-rate instruments issued oversubscribed.

The $15-billion bond issue included a two-year tenor with a maturity date of February 12, 2018 at an interest rate of 6.625 per cent; a six-year tenor with a maturity date of February 11, 2022 at an interest rate of 7.75 per cent; and a 30-year tenor with a maturity date of February 12, 2046 at an interest rate of 11.25 per cent.

According to a news release from the Ministry of Finance and Planning, interest will be paid semi-annually on all the bonds.

“The successful issue of these instruments represents a re-activation of the domestic market and was undertaken within the context of the GOJ’s payment of a $60.4 billion maturity on February 11, 2016,” the release said. “For Fiscal Year 2016/17, the Government will maintain a presence in the domestic capital market, facilitating development of both the primary and secondary markets.”