For one emerging-markets issuer at least, the US-led invasion of Iraq has proved a bonus.
On January 21, the Government of Jamaica launched and priced a five-year, e200 million benchmark bond. Commerzbank Securities and Deutsche Bank were joint lead managers.
Jamaica wanted to do the deal 12 months ago, but worries about Iraq forced it to wait. Tourism accounts for by far the largest single chunk of Jamaica’s exports of goods and services – 37% of the $3.2
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