Jamaica’s $1 Billion Debt Offering and Concurrent Tender Offer

Cleary Gottlieb represented Citigroup Global Markets Inc. and Scotia Capital (USA) Inc., as underwriters, in connection with an SEC-registered offering by the government of Jamaica of $1 billion 6.25% notes due 2037, and as joint dealer managers, in connection with a concurrent cash tender offer to purchase Jamaica’s outstanding 7.65% notes due 2028, 8.5% notes due 2036, and 8% notes due 2039.

The new notes offering was announced and priced on September 10, 2026, and is expected to close on September 17, 2026. Jamaica expects to use a portion of the net proceeds of the sale of the new notes to fund the payment for the notes accepted in its concurrent tender offer, which launched on September 2, 2026, expired on September 9, 2026, and is expected to settle on September 17, 2026. Jamaica announced that a total of $402.22 million principal amount of notes were tendered and will be repurchased as part of the tender offer.

The Cleary corporate team included partner Ignacio Lagos and law clerk Micaela Mingramm. Partner Matthew Brigham and associate Banu Dzhafarova advised on tax matters.