APAP completes local bond sale

APAP completes local bond sale

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

Asociación Popular de Ahorros y Préstamos (APAP), a financial institution in the Dominican Republic, issued DOP5 billion ($88 million) worth of peso-denominated bonds in the local market on Wednesday, according to information from the BVRD stock exchange in Santo Domingo. APAP priced the new 10-year notes at a fixed rate of 8.75%. It structured the sale itself with Primma Valores as the placement agent, according to the BVRD. The Santo Domingo-based lender plans to earmark 66% of the proceeds to

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