The Dominican Republic government placed US$1 billion on Thursday, 30 April 2015 through a dual-tranche reopening of 10 and 30-year bonds. The placement was included in the 2015 National Budget.
The Ministry of Hacienda reported that the placement was dual-tranched: Reopening of the US$500 million 10-year bond (2025) at a rate of 5.125% down from 5.5%, and reopening of the 6.85% 30 years bond (2045) now priced at 6.5%.
As reported, proceeds are being used for general purposes, including partial financing for the country’s 2015 budget. Investors were attracted to the bonds by reports of a booming tourism industry and an economy that has benefitted by unexpected lower oil prices and the placement was in record time due to the high demand.
The transaction was handled by J. P. Morgan and Bank of America Merrill Lynch and by the Banreservas as co-manager.
http://www.diariolibre.com/noticias/2015/04/30/i1126001_repblica-dominicana-coloca-bonos-soberanos-por-000-millones-dlares.html
http://www.reuters.com/article/2015/04/30/dominican-bonds-idUSL1N0XR2GS20150430