Dominican Republic announces dual-tranche bond issue
NEW YORK, Jan 20 (IFR) - The Dominican Republic (B1/B+/B+) on Tuesday announced a two-part US dollar-denominated bond issue, according to market sources.
The sovereign has set initial price thoughts of 5.65% area on a 10-year note and 7.0% area on a 30-year. Both tranches will be benchmark-sized.
Proceeds from the sale will be used for general purposes, including the repurchase or retirement of domestic and external indebtedness.
Bank of America Merrill Lynch and JP Morgan are the bookrunners on the transaction, which is expected to launch and price today. (Reporting by Davide Scigliuzzo; Editing by Marc Carnegie)
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