Listin Diario reports that Andres Dauhajre, in charge of the Unit for External Medium Term Financing, and Hugo Guiliani, Minister of Industry and Commerce, are in London to arrange for the US$500 million sovereign bonds. They will be making a presentation on the economic and social situation of the country to institutional investors. The newspaper’s sources say the idea is to place the bonds at a 10% interest ceiling. If all goes as planned, the country would receive the first US$140 million by 18 September. The Central Bank has planned for a gradual entry of the money so as not to destabilize the exchange market. The Dominican government team will travel from London to Boston, Chicago and New York, concluding work on 11-12 September. The newspaper says that the decision to go ahead with the bonds was made after Moody’s Investors Service improved the risk classification for bonds issued by the Dominican government in foreign currency. The bonds money is assigned to road construction: Circunvalacion Norte de Santiago RD$1.76 billion Autovia del Este RD$363.1 million Av. Jacobo Majluta RD$491.9 million Carretera Cardon-Barahona RD$306.6 million Carretera Hato Mayor-El Puerto RD$84.8 million Carretera San Pedro de Macoris-La Romana RD$1.06 billion Carretera Samana-Las Galeras RD$605.1 million Carretera Cruce Navarette-Puerto Plata RD$1 billion Circunvalacion del Atlantico (Puerto Plata) RD$1.3 billion Rural roads RD$1.9 billion Nationwide Paving Plan RD$750 million Carretera Sanchez–Autopista Las Americas RD$322 million Extension of the toll booths system RD$280.6 million Highway solution for Cabarete (Puerto Plata) RD$200 million
