National Commercial Bank of Jamaica to sell $100 million amortizing floating-rate notes this week

By Paul A. Harris

St. Louis, March 14 - National Commercial Bank of Jamaica plans to sell $100 million of its series 2006-1 amortizing floating-rate notes due 2013 (Baa3/BBB-) this week, according to an informed source.

Credit Suisse has the books for the Rule 144A and Regulation S offering.

The notes will come with an average life of 4.625 years. Straight line amortization will begin in the third year.

Proceeds will be used for general corporate purposes.

The prospective issuer is a full-service bank based in Kingston, Jamaica.

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