Agencies confirm Dominican Republic 30-year US$1.25B bond
Santo Domingo.- The Dominican Republic has issued a “historic” 30-year US$1.25 billion bond, becoming the first B-Rated country to do so with that period during the last six years.
The agencies Reuters and Bloomberg have confirmed the transaction, citing sources close to the operations.
The financial groups Goldman Sachs Group Inc. y JPMorgan Chase & Co. reportedly manage the operations.
The 30-year bond at a 7.45% rate is the lowest among all countries with rating similar to the Dominican Republic that have issued 30-year bonds, including Uruguay in 2006 (7.625%), Pakistan in 2006 (7.875%), Indonesia in 2005 (8.50%), and Jamaica in 2006 and 2007 (8.50%),(8.00%).
Some 118 investors around the world want Dominican Republic’s 30 year bond which posted a demand of US$3.0 billion, which according to listin.com.do, “reflects a considerable interest for a 30-year bond in a country with a rating of B1/B + / B.”
Category: DR News |