NEW YORK, June 29 (IFR) - The Dominican Republic has launched a US$500m tap of its 6.875% 2026 bond at 5.60% after order books swelled to around US$3bn, a buyside source told IFR on Wednesday.
The final yield comes at the tight end of guidance of 5.60%-5.65% and inside initial price thoughts of 5.875% area.
The bonds closed at 109.20 or a 5.6% yield on Tuesday and were trading earlier on Wednesday at 110.25 or at a yield of 5.40%, the investor said.
The Caribbean nation is expected to price the deal later on Wednesday through leads Citigroup and JP Morgan. ratings are B1/BB-/B+. (Reporting By Paul Kilby; editing by Shankar Ramakrishnan)