Dominican Rep issued USD 1 bn in Sovereign Bonds

DOMINICAN REPUBLIC - In Brief 26 Jan 2016 by Pavel Isa

On 22 January, the Dominican government issued and allocated in capital markets Sovereign Bonds for a total amount of USD 1 bn . The bonds have a term of 10 years and the rate settled was 6.875%. The bonds were previously approved by Congress and the financing is included in the Budget Law for 2016. The rate at which the issue was settled is above the rate for the 2015 bonus of similar maturity (5.50%). The increased in the Federal Reserve reference rate contributed to the difference, as well as the overall prospects of emerging market economies. Both elements more than counter the positive short and mid term prospects on the country. The government said that total demand almost tripled to total amount issued, reaching USD 2.8 bn.

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