Dominican Republic taps 2032s for buyback

Dominican Republic taps 2032s for buyback

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

The Dominican Republic tapped its 4.875% 2032 bonds for $1.27 billion on Tuesday, raising money to buy back outstanding notes that mature between 2021 and 2025, according to sources following the deal. With Citi and JPMorgan as bookrunners, the Caribbean nation priced the tap at 107.175 to yield 4.1%, according to sources. The deal opened with the initial price talk at 4.875%, but came down to 4.1% by final guidance.  "The compression on the spread was incredible," said an investor in Panama. "O

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