Dominican Republic’s $1.5 Billion And DOP$50.5 Billion Sovereign Bond Offerings

Simpson Thacher and Pellerano Nadal represented BofA Securities, Inc. and J.P. Morgan Securities LLC, as initial purchasers, in connection with simultaneous offerings by the Dominican Republic of US$1.5 billion 6.4% bonds due 2049 and DOP$50.523 billion 9.75% bonds due 2026. Cleary Gottlieb Steen & Hamilton advised The Dominican Republic.

The sovereign debt offerings were conducted in reliance on Rule 144A and Regulation S. Proceeds of each offering will be used for general budget purposes.

The DOP issuance is the largest international DOP issuance and longest maturity, and the 30-year USD issuance achieved the lowest interest rate for the Dominican Republic to date.

Cleary Gottlieb Steen & Hamilton advised The Dominican Republic with Juan G. Giráldez, Ignacio Lagos, Jessica Batlle, Anthony Thomas Yánez, JinSol Lee and Rigoberto Chávez.

The Simpson Thacher team for the transaction included Jaime Mercado (Picture), Kirsten L. Davis, Luis Pellerano and Miluska Gutierrez Vega (Capital Markets); and Jonathan Cantor and Sarah Duffy (Tax).

In Santo Domingo, Pellerano Nadal advised the initial purchasers with Luis Rafael Pellerano. Socio Gustavo Mena. Asociada sénior Belkys Génesis Rodríguez. Asociado Eduardo Pellerano Nadal.

Involved fees earner: Jessica Batlle – Cleary Gottlieb Steen & Hamilton; Juan Giráldez – Cleary Gottlieb Steen & Hamilton; Ignacio Lagos – Cleary Gottlieb Steen & Hamilton; JinSol Lee – Cleary Gottlieb Steen & Hamilton; Anthony Thomas Yanez – Cleary Gottlieb Steen & Hamilton; Gustavo Mena – Pellerano Nadal; Luis Rafael Pellerano – Pellerano Nadal; Eduardo Pellerano Nadal – Pellerano Nadal; Belkys Génesis Rodríguez – Pellerano Nadal; Jonathan Cantor – Simpson Thacher & Bartlett; Kirsten Davis – Simpson Thacher & Bartlett; Sarah Duffy – Simpson Thacher & Bartlett; Miluska Gutierrez Vega – Simpson Thacher & Bartlett; Jaime Mercado – Simpson Thacher & Bartlett; Luis Pellerano – Simpson Thacher & Bartlett;

Law Firms: Cleary Gottlieb Steen & Hamilton; Pellerano Nadal; Simpson Thacher & Bartlett;

Clients: Bank of America Securities; Dominican Republic; J.P. Morgan Securities LLC;