CND Set for Local Bond Placement

CND Set for Local Bond Placement

Dominican Republic Bonds

Cerveceria Nacional Dominicana (CND) is set to place DOP2bn ($54m) in the Dominican Republic’s local bond market today. The sale is part of a DOP6.7bn program and will raise money to help fund the May buyback of $117m in more expensive cross-border debt. The brewer of Presidente beer will place DOP1bn in 13% 2016 bonds, and DOP1bn in 2016 floating-rate bonds paying the TIPPP benchmark rate plus 2.75%. Both are pricing at par, according to a company official, who adds that the company hopes

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