January 25, 2016 |
The Dominican Republic proved that investors had the cash for higher quality high-yield sovereign papers and printed a $1bn 2026 bond that drew more than $2.5bn in demand.
Lead banks Deutsche Bank and JPMorgan picked a Friday issuance window as equities and oil prices rebounded after a volatile start to the week saw a sharp sell-off and oil prices hit new lows.
“Friday had been the strongest day for risk all year, so the issuer thought it was the right day to move ahead and issue,&rd
The deal marks the first high-yield sovereign trade of the year