The DR has reopened its 6.875% 2026 benchmark bond, adding $500 million, Latin Finance reported from its sources. The publication explained the DR tightened its yield on 2026 retap. The DR bonds received offers for US$2.6 billion, reflecting their bonds attractiveness to investors, even during this Brexit doomsday period.
The bonds were issued on 29 June 2016 with expiration in 2026 at yield of around 5.6%, according to the Ministry of Hacienda’s general public credit department.
As reported, the Tuesday 28 June 2016 operation was carried out by JP Morgan, Citi and the Banco de Reservas of the Dominican Republic.
Diario Libre reports that with the placement of US$500 million the Ministry of Hacienda issued US$250 million more than what was budgeted in the National Budget. As reported, Congress approved sovereign bond placement for US$1.25 billion, and the Ministry of Hacienda has placed US$1.5 billion.
http://www.creditopublico.gov.do/novedades/2016/20160629_BonosSoberanos.htm
http://acento.com.do/2016/economia/8361292-8361292/
http://em.cbonds.com/countries/Dominican-bond
http://www.gbm.scotiabank.com/English/bns_econ/dominicanrepublic-execbriefing.pdf
http://www.diariolibre.com/economia/emision-de-bonos-globales-por-us-500-millones-supera-lo-presupuestado-LX4198049
