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Dominican Sovereign Bond Issue          


On June 13th, 2017 the Ministry of Finance of the Dominican Republic placed a total amount of US$500.0 million in the international capital markets, for the financing of the Punta Catalina power plant, as approved by Law No.687-16

This issuance for US$500.0 million at a 5.10% yield, was a reopening of the 10-years bonds issued on January 18th, and closed with a yield to maturity 85 bps lower compared to the rate of the original instrument of 5.95%, being the lowest yield obtained by the country in it’s history in the international capital markets.

During the allocation process, of around 3 hours, the order book had over 100 orders for a demand of more than US$1,800.0 million, around 3.6 times the amount offered. This demand came from investors from different countries and regions, including Unites States, Europe, Latin America and local investors.

The demand received, as well as the attractive yield rates, are a new sign of the confidence of the international investor community in the macroeconomic fundamentals of the country, as well as in the recent performance and future prospects of the Dominican economy and the management of public finances.

The Minister of Finance, Donald Guerrero Ortiz, led the Dominican team with the technical support of the Public Debt Office staff. The transaction closed in New York, with Drexel Hamilton, Stifel y Jeffries as book-runner manager and Banco de Reservas as co-manager.