NEW YORK, July 11 (IFR) - The Dominican Republic, rated B1/B+/B, has priced a US$250m increase of its 7.45% 2044 bond at a cash price of 107.566 to yield 6.85%, according to market sources.
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 brings the total outstanding amount on the note to US$1.5bn.
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)