Dominican Republic in $1.3 Billion Sovereign Bond Offering

July 19, 2018

Cleary Gottlieb represented the Dominican Republic in a 144A/Reg. S offering of $1.3 billion aggregate principal amount of bonds due 2028.

The initial purchaser of the bonds was J.P. Morgan Securities LLC. The transaction priced on July 12, 2018, and closed on July 19, 2018.

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

The Dominican Republic intends to use the net proceeds from the sale of the bonds for general purposes of the Government, including the partial financing of the 2018 budget.