Economy January 20, 2015 | 11:28 am

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Dominican Republic announces 2-part US dollar bond(Update)

New York.- Bloomberg reports Wed. afternoon that the Dominican Republic plans an issue of at least US$1 billion of bonds, to pay off more expensive notes.

File. (IFR). – Quoting market sources, Reuters reports that the Dominican Republic (B1/B+/B+) on Tuesday announced a two-part US dollar-denominated bond issue.

“The sovereign has set initial price thoughts of 5.65% area on a 10-year note and 7.0% area on a 30-year. Both tranches will be benchmark-sized,” the news service said.

Reuters says proceeds from the sale will be used for general purposes, including the repurchase or retirement of domestic and external indebtedness. “Bank of America Merrill Lynch and JP Morgan are the bookrunners on the transaction, which is expected to launch and price today.”

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