Dominican Republic to tap 2032s for buyback

Dominican Republic to tap 2032s for buyback

Bonds Debt Capital Markets Corporate & Sovereign Strategy Economy & Policy Fixed Income Dominican Republic

The government of the Dominican Republic said Tuesday that it plans to tap its 4.875% 2032 bonds to raise funds for the buyback of notes that mature between 2021 and 2025. The Caribbean nation asked to repurchase its 7.5% 2021 bonds, 6.6% 2024 bonds, 5.875% 2024 bonds and 5.5% 2025 bonds, which have an outstanding amount of $3.5 billion. It offered to pay $1,032 for every $1,000 in 2021 notes, $1,118.75 for the 2024s, $1,077.50 for the 2024s and $1,098.75 for the 2025s. Citi and JPMorgan are the

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