AES Dominicana prices high-yield bond

AES Dominicana prices high-yield bond

Caribbean Dominican Republic Bonds

AES' subsidiaries in the Dominican Republic – AES Andres and Empresa Generadora de Electricidad Itabo – have completed a two-part Rule 144A/Reg S cross-border bond sale, sources told LatinFinance. The combined sale, through -/B+/B+ rated AES Dominicana, raised $370m from the sale of two 10-year non-call five bonds that priced at 97.984 with a 7.95% coupon to yield 8.25%, one banker said.Bookrunners Citi and Credit Suisse tightened the yield on the deal after early guidance was set at 8.25% to 8.

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