Jamaica Launches “Non-Deal” Roadshow

Jamaica’s finance ministry begins today a “non-deal” roadshow hitting New York and Boston and wrapping up Thursday. According to bankers with knowledge of the show, the sovereign is assessing 2008 borrowing needs ahead of the end of its fiscal year in March. Jamaica will have to cover $413m in amortizations in 2008, according to Fitch estimates based on government data. It has a EUR200m issue coming due in February 2009. Jamaica has $3.1bn in outstanding debt, according to Fitch, which gives a B+ rating to the sovereign debt. Deutsche Bank and Morgan Stanley are managing the tour.