Dominican Republic talks $500 million add-on to 7½% notes due 2021 at low 7% area yield

By Christine Van Dusen

Atlanta, July 21 - The Dominican Republic set initial price guidance at a low 7% area yield for its planned $500 million add-on to its 7½% notes due 2021 (B1/B+/B), a market source said Thursday.

Barclays Capital and JPMorgan are the bookrunners for the Rule 144A and Regulation S offering.

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

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