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Insertion for PetroCaribe story

Published:Thursday | July 23, 2015 | 5:28 PM

Details of the issue were released later on Thursday. Jamaica aims to raise US$2 billion through the issue of two bonds - one 13-year instrument with a coupon of 6.75 per cent and another for 30 years with a coupon of 7.875 per cent.

The 2028 note being issued is targeting US$1.35 billion, while the 2045 note is targeting US$650 million.

PetroCaribe debt currently carries an interest rate of one per cent per year over a period of 25 years.