Dominican Republic launches US$250m tap of 2044 bond

viernes 11 de julio de 2014 12:13 GYT
 

NEW YORK, July 11 (IFR) - The Dominican Republic, rated B1/B+/B, has launched a US$250m increase of its 7.45% 2044 bond at the final yield of 6.85%, according to one of the lead managers.

Final terms came tight to initial price thoughts of 6.95%-7.00% released earlier on Friday.

Goldman Sachs and JP Morgan are the bookrunners on the transaction, which will bring the total outstanding amount on the note to USD1.5bn.

Proceeds will be used to finance infrastructure projects, as well as to provide economic support to other sectors of the economy.

(Reporting by Davide Scigliuzzo; Editing by Paul Kilby)