A first, IDB issues a US$9.3M bond in Dominican market
Santo Domingo.- IDB Invest, a member of the Inter-American Development Bank (IDB) Group, issued its first bond in the Dominican money market, of RD$500 million (US$9.3 million).
The bond, which has a fixed rate of 8.80% and matures October 19, 2022, has piqued interest among local investors, especially pension fund managers.
“The bond funds will allow IDB Invest to finance its loan portfolio in the Dominican Republic and is part of the institutional strategy to provide more flexible and innovative products in local currency and promote local capital markets,” Listin Diario reports.
Since 2016, IDB Invest has approved 6 transactions for more than US$358 million in businesses in the Dominican Republic.