Economy April 30, 2015 | 10:27 am

Buy car in DR

Reuters: Dominican Republic bonds seek to raise US$1.0B

Santo Domingo. Dominican Republic is poised to raise US$1.0 billion on Thursday through a dual-tranche reopening of 10 and 30-year bonds, the agency Reuters reports from New York.

The cable service reports that Leads Bank of America Merrill Lynch and JP Morgan are offering investors “initial price thoughts of 5.25% area on the country’s 5.5% 2025s and 6.65% area on its 6.85% 2045s,” adding that the total size has been capped at US$1.0 billion.

“Proceeds are being used for general purposes, including partial financing for the Caribbean nation’s 2015 budget. The senior unsecured bond is being sold under a 144A/RegS format and is rated B1/B+/B+ by Moody’s, S&P and Fitch,” Reuters said.

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