According to fixed income investors, the Dominican Republic is expected to return to the cross-border bond market again this year to begin to meet its 2018 funding needs. Investors state that the sovereign’s debt is in high demand due to the Dominican Republic’s projected high levels of economic growth and its lowering current account deficit.
Rated B1/BB-/BB-, the Dominican Republic’s credit ratings do not seemingly reflect its quality as an issuer, a bond buyer told Latin Finance magazine, giving investors a higher chance of snatching up more yield when the new bonds are issued.
The Dominican Republic came to the cross-border market in January with a 5.95% $1.2bn 2027 bond led by JPMorgan, while local bank BanReservas joined as co-manager.
Read more:
Latin Finance
10 May 2017
