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Anchor orders drive Jamaican road company global debut

November 7, 2011 You can access the full text of this article on Euroweek website
State-owned Jamaican road company NROCC made its global market debut on Thursday with a $294m deal designed to refinance an outstanding short-term issue.

The B3/B- borrower opted for a soft bullet structure with two equal principal repayments in 2023 and 2024, giving the deal an average life of 12.5 years.

Yield guidance was in the 9.40% area and tightened in during the two hours global books were open to 9.3875%. The deal priced at par.
  • Status
    outstanding
  • Country of risk
    Jamaica
  • Redemption (put/call option)
    *** (***)
  • Amount
    294,180,000 USD
  • М/S&P/F
    — / — / —
  • Full name
    National Road Operating and Construction Company Limited
  • Registration country
    Jamaica
  • Industry
    Other sectors