The Government of Jamaica - Tender Offer - Launch

Government of Jamaica Announces an Invitation for Offers to Tender for Cash its 7.625% Notes due 2025, 9.250% Notes due 2025, and 6.750% Notes due 2028

19 OCTOBER 2023

Full announcement including disclaimers and offer restrictions available via Prnewsire: Source: Government of Jamaica

"The Government of Jamaica (“Jamaica”) hereby invites holders to submit offers (the “Offers”) to tender for cash the notes set forth in the table below (collectively, the “Old Notes”, and each series thereof a “series” of Old Notes), upon the terms and subject to the conditions described herein (the “Invitation”). Each offer to tender any series of Old Notes is made as a separate, independent offer. The Invitation will be conditioned upon, among other things, the issuance and sale for cash of one or more new series of notes (collectively, the “New Notes,” and the issuance and sale of the New Notes, the “New Notes Offering”), in an amount and on terms and conditions acceptable to Jamaica (the “Financing Condition”). The maximum purchase price is the maximum amount to be paid by Jamaica for the outstanding original principal amount of Old Notes validly tendered and accepted for purchase by Jamaica pursuant to this Invitation (i.e., the aggregate Purchase Price (as defined below) multiplied by the applicable Amortization Factor (as defined below)), not including interest accrued and unpaid thereon (the “Maximum Purchase Price”). The Maximum Purchase Price will be determined by Jamaica in its sole discretion.

The Invitation is not conditioned upon any minimum participation of any series of Old Notes. Jamaica reserves the right, in its sole discretion, not to accept any or all Offers, to modify the Purchase Price for any or all series of Old Notes upon the terms and conditions described herein, or to terminate the Invitation for any reason and upon the terms and conditions described herein.

Jamaica will pay per U.S.$1,000 original principal amount of each series of Old Notes that are accepted pursuant to the Invitation, a purchase price equal to the applicable fixed price indicated in the in the rightmost column in the table below (the “Purchase Price”), multiplied by the Amortization Factor, if applicable, plus, in each case, accrued and unpaid interest on such Old Notes from the applicable last regular payment of interest to (but excluding) the Settlement Date (“Accrued Interest”)."

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