News & Events

The Firm recently represented J.P. Morgan Securities LLC and Merrill Lynch, Pierce, Fenner & Smith, Incorporated, as initial purchasers, in a simultaneous re-opening of US$500 million of 5.500% Bonds due 2025 and US$500 million of 6.850% Bonds due 2045 issued by The Dominican Republic. The net proceeds of the offerings will be used for general purposes of the government, including partial financing of the 2015 budget. The initial purchasers previously assisted the Republic in the issuance of US$1.0 billion of its 5.500% Bonds due 2025 and US$1.5 billion of its 6.850% Bonds due 2045, a portion of the proceeds of which were used to repurchase indebtedness due by the Republic to PDVSA Petróleo, S.A. The sovereign debt offering was conducted in reliance on the exemptions from registration provided by Rule 144A and Regulation S.

The Simpson Thacher team for the transaction included Jaime Mercado, Luis Pellerano and Vitor Lobao (Capital Markets); and Jonathan Cantor and Michael Cardella (Tax).