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LatinNews Daily - 24 January 2020
In brief: DR issues “historic” bonds
* In a move described as “historic”, the Dominican Republic (DR) government has issued a total of US$2.5bn worth of bonds in the international market. According to the government, the amounts, for US$1bn and US$1.5bn, have maturities of 10 and 40 years and coupon rates of 4.50% and 5.875%, respectively. The government highlights that the placement was more than four times oversubscribed, for a total of US$8.42bn which, it maintains, is an “important reflection” of the firm conviction that investors have in the future of the DR’s economy, the fastest growing in Latin America. According to the latest (December 2019) report from the United Nations Economic Commission for Latin America & the Caribbean (Eclac), the DR’s economy was forecast to grow 4.8% in 2019, above the 0.1% average for Latin America and 2.4% average for Central America.
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