Dominican Republic in $1.25 Billion Sovereign Bond Offering

April 30, 2014

Cleary Gottlieb represented the Dominican Republic in a 144A/Reg. S offering of $1.25 billion aggregate principal amount of amortizing bonds due 2044 at an interest rate of 7.450%. The initial purchasers of the bonds were Goldman, Sachs & Co. and J.P. Morgan. Additionally, BanReservas acted as co-manager with respect to the bonds. The transaction closed on April 30.

The offering marked the sixth time the Dominican Republic has tapped the international debt markets during the last four years. Cleary Gottlieb has represented the sovereign in connection with each offering.