DR Ministry of Finance announces repurchase of DOP bonds that mature in 2023

DOMINICAN REPUBLIC - In Brief 25 Jan 2023 by Magdalena Lizardo
Yesterday, the Ministry of Finance announced the decision to repurchase DOP bonds that mature in 2023. Payment will be made in cash. The amount of the main bond to be acquired is DOP40 b and has a coupon of 8.9% According to the announcement, disclosed through Global Bondholder Services Corporation, “the Purchase Price and Accrued Interest (as defined herein) of the Existing Bonds will be converted into U.S. dollars at an exchange rate equal to the weighted average of the buy and sell foreign exchange rates for transactions completed on the Dominican business day immediately prior to the Expiration Time (as defined below) by commercial banks and financial institutions in the Dominican Republic, as calculated and published by the Central Bank of the Dominican Republic (Banco Central de la República Dominicana), available at the Central Bank’s website at  https://bcrdgdcprod.blob.core.... (the “Applicable Exchange Rate”), and paid in U.S. dollars. The Republic intends to announce the Applicable Exchange Rate by press release after the Expiration Time, currently scheduled for January 31, 2023”

Now read on...

Register to sample a report

Register
Sign-in
Forgot your password?
Copyright 2024 GlobalSource Partners. All rights reserved. This is prepared for GlobalSource Partners’ clients and may not be redistributed, reproduced, stored in a retrieval system, retransmitted or disclosed, in whole or in part, or in any form or manner, without the express written consent of GlobalSource Partners. This is distributed simultaneously to our website and other portals used by GlobalSource Partners. The information herein was obtained from various sources and is believed to be reliable but GlobalSource Partners does not warrant its completeness or accuracy. Neither GlobalSource Partners nor any Country Analyst, officer or employee accepts any liability whatsoever for any direct, indirect or consequential damages or losses rising from any use of this or its contents.