NEW YORK, April 30 (IFR) - The Dominican Republic is preparing to raise US$1bn on Thursday through a dual-tranche reopening of 10 and 30-year bonds.
Leads Bank of America Merrill Lynch and JP Morgan are offering investors initial price thoughts of 5.25% area on the country’s 5.5% 2025s and 6.65% area on its 6.85% 2045s. Total size has been capped at US$1bn.
Proceeds are being used for general purposes, including partial financing for the Caribbean nation’s 2015 budget. The senior unsecured bond is being sold under a 144A/RegS format and is rated B1/B+/B+ by Moody‘s, S&P and Fitch. (Reporting by Paul Kilby; Editing by Natalie Harrison)