Government opens books on a new dual-currency, dual-tranche bond
Santo Domingo.- The Dominican government has opened books on a new dual-currency, dual-tranche (varying risk to investor) bond offering denominated in US dollars and Dominican pesos, Reuters reports Thursday quoting a source.
It said the sovereign, rated B1/B+/B, “has set initial price thoughts of 7.5% area on a US dollar 30-year bond. It has also set initial price thoughts of 10.125% area on a Dominican peso five-year bond, though investors will be paid in dollars.”
The news agency reports that the proceeds from the 144a/Reg S deal will go towards financing infrastructure projects and to providing support for other sectors of the Caribbean country’s economy. “The deal is expected to price later today via Goldman Sach and JP Morgan.”
Category: DR News |