NewsWhore
04-30-2010, 06:00 PM
The government of the Dominican Republic sold US$750 million in 11-year bonds on Thursday at 376.8 basis points over Treasury's to yield 7.5%, according to Hacienda Minister Vicente Bengoa. He said the bonds have fixed redemptions set for 2019, 2020, and 2021, and interest payments on a semester basis. The placement made out through the investment bankers Citi and Barclays Capital, which had won the tender issued by the Dominican government for this purpose.
Bengoa expressed his satisfaction with the 7.5% interest rate, "given the instability that the situation in Greece, Spain and other countries has caused in the international markets which saw these countries' risk assessment rating go lower this week". He said that nobody knows "how long this situation might last". The Dominican minister highlighted the fact that 164 investors were showing interest in participating in the transaction, as well, for as much as US$4.5 billion "which represents an 'over-subscription' of six times the amount announced".
More... (http://www.dr1.com/index.html#1)
Bengoa expressed his satisfaction with the 7.5% interest rate, "given the instability that the situation in Greece, Spain and other countries has caused in the international markets which saw these countries' risk assessment rating go lower this week". He said that nobody knows "how long this situation might last". The Dominican minister highlighted the fact that 164 investors were showing interest in participating in the transaction, as well, for as much as US$4.5 billion "which represents an 'over-subscription' of six times the amount announced".
More... (http://www.dr1.com/index.html#1)