Jamaica May Sell Bonds Overseas by Year-End, Prime Minister Golding Says

Jamaica may sell bonds this year after borrowing costs fell to a four month-low, according to Jamaica Prime Minister Bruce Golding.

“We’re looking at the market this year,” Golding, who was elected in 2007, said in an interview at Bloomberg’s headquarters in New York today.

Finance Minister Audley Shaw will be travelling to Europe in October to gauge interest, he said. “We certainly want to speak with investors before we take that decision,” Golding said.

The extra yield investors demand to own Jamaican government bonds instead of U.S. Treasuries fell six basis points, or 0.06 percentage point, to 494 at 1:15 p.m. New York time. The difference shrank to 476 points last week, the lowest level since May 17.

Jamaica plans to tap international credit markets as the Caribbean country faces $400 million of debt maturing in May, Golding said.

To contact the reporter on this story: Veronica Navarro Espinosa in New York at vespinosa@bloomberg.net Eric Sabo in Panama City at esabo1@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net

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