Dominican Rep allocates USD 1 bn in Sovereign Bonds

DOMINICAN REPUBLIC - In Brief 30 Apr 2015 by Pavel Isa
Today, the Government of the Dominican Republic allocated USD 1 bn in Sovereign Bonds in global capital markets. The dual-tranche allocation (reopening of 10 and 30-year bonds) is part of the financing needs set in the budget for 2015. The reop of the 10-year bonds reached 5.125%, with a total amount of USD 500 millions, and the reop of the 30-year bonds reached 6.5% and totaled USD 500 millions. These interest rates are lower than those reached in January when the government allocated USD 2.5 bn (5.5% for the 10-year bonds and 6.85% for the 30-year bonds). The Ministry of Finance informed that total demand reached USD 3 bn. Leading banks were J.P. Morgan and Bank of America Merryl Lynch; local state-owned Banreservas served as co-manager.

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