USD 2.5 bn in global bonds allocated in international capital markets

DOMINICAN REPUBLIC - In Brief 23 Jan 2020 by Pavel Isa

The Government of the Dominican Republic placed bonds in the international capital market today for a total amount equivalent to USD 2.5 bn. USD 1.0 bn were in 10-year bonds and at an interest rate of 4.50%, the lowest achieved by the country for a bond of that term, and USD 1.5 bn million were in 40-year bonds at an interest rate of 5.875%. It is the first time that the Dominican Republic places bonds for such a long term.The Ministry of Finance reported that the demand was USD 8.421 bn, more than 4 times the amount offered and that the placement extends the average maturity from 9.7 years to 11 years. The structuring banks were J.P. Morgan and BNP Paribas.

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