Dominican Republic places sovereign bonds for US$1 billion
Because of the high demand they close the transaction in a record time
Diario Libre
SD. The Dominican government yesterday placed Sovereign Bonds for a total amount of US$1.0 billion on the global capital market, and emission which is part of the plan for financing covered in the 2015 Budget.
According to a document read by the spokesman for the Presidency, Roberto Rodriguez Marchena, during a press conference at the Presidential Palace, the placement was carried out in two sections: the reopening of the ten-year Bond at an interest rate of 5.125% for US$500 million, and the reopening of the 30 year bond at a rate of 6.5% for US$500 million.
"These rates are considerably less than those with which the country placed bonds in January of this year, which were 5.50% for the 10 year bond and 6.85% for the 30 year bond," noted the press communiqué.
For the authorities this constitutes a new signal of confidence by the international investment community in the performance of the Dominican economy and its prospects regarding the future.
The total demand received was for US$3 billion. This is to say three times more than the offered amount; and this in spite of the fact that the order book was only left open for some three hours.
Rodriguez Marchena said that they received 114 orders for the 10 year bond and 100 orders for the 30 year bond. This demand came from investors from different countries and regions of the world, including the United States, Europe, Latin America as well as local investors.
The Dominican team was headed by the Minister of Hacienda, Simón Lizardo Mezquita with the technical support of the Directorate General of Public Credit. The transaction was closed in New York City.
According to a document read by the spokesman for the Presidency, Roberto Rodriguez Marchena, during a press conference at the Presidential Palace, the placement was carried out in two sections: the reopening of the ten-year Bond at an interest rate of 5.125% for US$500 million, and the reopening of the 30 year bond at a rate of 6.5% for US$500 million.
"These rates are considerably less than those with which the country placed bonds in January of this year, which were 5.50% for the 10 year bond and 6.85% for the 30 year bond," noted the press communiqué.
For the authorities this constitutes a new signal of confidence by the international investment community in the performance of the Dominican economy and its prospects regarding the future.
The total demand received was for US$3 billion. This is to say three times more than the offered amount; and this in spite of the fact that the order book was only left open for some three hours.
Rodriguez Marchena said that they received 114 orders for the 10 year bond and 100 orders for the 30 year bond. This demand came from investors from different countries and regions of the world, including the United States, Europe, Latin America as well as local investors.
The Dominican team was headed by the Minister of Hacienda, Simón Lizardo Mezquita with the technical support of the Directorate General of Public Credit. The transaction was closed in New York City.
Diario Libre
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