Dominican Republic provides exchange rate information for tender offer

Chicago, Jan. 26 – The Dominican Republic pointed investors toward a website that can be used to calculate the conversion rates for its ongoing cash tender offer for its DOP 40 billion 8.9% bonds due 2023 (Cusips: P3579EBZ9, 25714PDX3), according to a press release on Thursday.

The conversion price will be calculated on the business day immediately prior to the Jan. 31 expiration date for the tender offer.

The consideration will be payable in dollars by converting the applicable Dominican peso amounts to dollars on the representative market rate at the expiration time.

The applicable exchange rate will be available at the central bank of the Dominican Republic’s website (https://cdn.bancentral.gov.do/ documents/estadisticas/ mercado-cambiario/documents/ TASA_DOLAR_REFERENCIA_MC.xlsx?v= 1674595023895).

The website is different than the one in the original offer document.

Settlement is still planned for Feb. 3.

As reported on Tuesday, the offer is conditioned upon the closing of one or more new DOP-denominated, New York law-governed debt securities. Tendering holders who wish to subscribe for the new notes should include their priority allocation code when subscribing.

Tenders may be subject to proration.

The dealer managers for the offer are Citigroup Global Markets Inc. (212 723-6106, 800 558-3745, ny.liabilitymanagement@citi.com) and J.P. Morgan Securities LLC (212 834-7279, 866 846-2874).

Global Bondholder Services Corp. is the tender and information agent (212 430-3774, 855 654-2014, contact@gbsc-usa.com, https://www.gbsc-usa.com/dominican, Fax: 212 430-3775/3779).

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