Dominican Republic’s $2.5 Billion Sovereign Bond Offering

Simpson Thacher represented Initial Purchasers on the deal. Cleary Gottlieb represented the Dominican Republic in the offering.

The Dominican Republic completed simultaneous offerings of US$1 billion 4.5% bonds due 2030 and US$1.5 billion 5.875% bonds due 2060. 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.

BNP Paribas Securities Corp. and J.P. Morgan Securities LLC, acted as initial purchasers for the offerings.

The Simpson Thacher team for the transaction included Jaime Mercado (Picture), Karen McClendon and Luis Miguel Posadas (Capital Markets); and Jonathan Cantor and Brian Mendick (Tax).

The Cleary corporate team on the transaction included partner Juan Giráldez, associates Ignacio Lagos and Jessica Batlle, and law clerk Eric Finkelberg. Associate Anthony Yanez and law clerk Victoria Ju provided tax advice. All lawyers are based in New York except Juan Giráldez, who is based in São Paulo.

Involved fees earner: Jessica Batlle – Cleary Gottlieb Steen & Hamilton; Juan Giráldez – Cleary Gottlieb Steen & Hamilton; Ignacio Lagos – Cleary Gottlieb Steen & Hamilton; Anthony Yanez – Cleary Gottlieb Steen & Hamilton; Jonathan Cantor – Simpson Thacher & Bartlett; Karen McClendon – Simpson Thacher & Bartlett; Brian Mendick – Simpson Thacher & Bartlett; Jaime Mercado – Simpson Thacher & Bartlett;

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

Clients: Republic of Dominica;

Author: Ambrogio Visconti