NewsWhore
07-14-2011, 12:00 PM
Barclays Capital and JP Morgan will manage the placement of US$500 million in dollar-denominated debt to fixed-income investors in Europe and the United States. As reported, these are 144A/RegS dollar bonds. Finance Minister Daniel Toribio is scheduled to travel to the US and London 14-20 July to offer the sovereign bonds. The road show starts in Los Angeles on July 14, then San Francisco, London, Boston and New York through the following week. The financial mission seeks to negotiate the bonds at a 7-7.5% interest rate. Rating agencies have issued the following ratings: Standard & Poor's, B+/Stable (13 June 2011), 13.06.2011; Fitch Ratings, B/Positive (5 January 2011). The DR has 6 issues outstanding worth US$3,146,550,000.
Law No. 134-11 dated 7 June 2011 authorizes the Ministry of Hacienda to issue global bonds for an amount up to US$500 million, to be allocated in the international markets at the most favorable financial conditions for the country. Furthermore, the law stipulates that the bonds will be freely tradable in the secondary market, stock exchange and OTC market that applies according to the legislation of the bonds.
According to the Dominican government, resources from this bond issuance will be used to fulfill the program of public works stipulated in Law 297-10 of the National Budget.
http://www.creditopublico.gov.do/ingles/news/20110610_External_Bonds.htm
More... (http://www.dr1.com/index.html#1)
Law No. 134-11 dated 7 June 2011 authorizes the Ministry of Hacienda to issue global bonds for an amount up to US$500 million, to be allocated in the international markets at the most favorable financial conditions for the country. Furthermore, the law stipulates that the bonds will be freely tradable in the secondary market, stock exchange and OTC market that applies according to the legislation of the bonds.
According to the Dominican government, resources from this bond issuance will be used to fulfill the program of public works stipulated in Law 297-10 of the National Budget.
http://www.creditopublico.gov.do/ingles/news/20110610_External_Bonds.htm
More... (http://www.dr1.com/index.html#1)