Simpson Thacher Represents Initial Purchasers in US$2.5 Billion Sovereign Debt Offerings by the Dominican Republic
01.22.21
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The Firm recently represented J.P. Morgan Securities LLC and Citigroup Global Markets Inc., as initial purchasers, in connection with the offerings by the Dominican Republic of US$1 billion in aggregate principal amount of its 4.5% bonds due 2030 and US$1.5 billion in aggregate principal amount of its 5.3% bonds due 2041. The offering of the 4.5% bonds due 2030 was a reopening of series of bonds that had previously been issued by 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 purposes of the Government of the Dominican Republic, including the partial financing of the 2021 Budget.
The Simpson Thacher team for the offerings included Jaime Mercado, Kirsten L. Davis and Laura Ribero (Capital Markets); and Jonathan Cantor and Brian Mendick (Tax).