Melia Hotels International of Spain and the Popular Group of the Dominican Republic will issue corporate bonds for the hotel sector. This is the first initiative of this kind in the Dominican Republic. The emission will be structured and distributed by Popular Investments, the stock exchange seat of the Popular Group. The amount of this program, which is structured in successive emissions according to the demand of the hotel chain, could reach US$100 million, official sources told the Spanish news agency EFE. This is the group’s first bond emission in dollars.
The National Securities Council of the Dominican Republic approved this program of corporate bonds on Tuesday, 3 March 2015. The issuer is the subsidiary of the Melia Group in the country, “Desarrollos Sol, S. A.,” the owner of the Melia developments in Punta Cana.