New Issue: Dominican Republic prices $1 billion, Dominican peso 40 billion notes in two parts

By Rebecca Melvin

New York, Feb. 9 – The Dominican Republic priced $1.82 billion equivalent in two bond issues (expected rating: Ba3) on Thursday, according to a market source.

A 40 billion Dominican peso-denominated offering of five-year notes priced at par to yield 8.9%; and a $1 billion offering of 30-year notes priced at par to yield 6˝%.

Citigroup and JPMorgan were the bookrunners for the Rule 144A and Regulation S paper.

Issuer:	The Dominican Republic
Issue:	Notes
Amount:	$1.817 billion equivalent
Bookrunners:	Citigroup and JPMorgan
Pricing date:	Feb. 8
Settlement date:	Feb. 15
Rating:	Moody’s: Ba3
Distribution:	Rule 144A and Regulation S
Five-year notes
Amount:	DOP 40 billion
Maturity:	Feb. 15, 2023
Coupon:	8.9%
Price:	Par of DOP 50,000
Yield:	8.9%
30-year notes
Amount:	$1 billion
Maturity:	Feb. 15, 2048
Coupon:	6˝%
Price:	Par
Yield:	6˝%

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