(Santo Domingo, 5 June 2019). Luis Rafael Pellerano was the leading Dominican lawyer for the initial purchasers, Bank of America and JP Morgan Securities, in the issuance of bonds by the Government of the Dominican Republic in the international capital markets.
On May 29, 2019, the Government of the Dominican Republic placed bonds in the international capital markets for a total equivalent amount of USD2,500 million, due to the issuance of Dominican peso (DOP) 7 years bonds for DOP50,523 million (US$1,000 million), and a 30-year USD bond for USD1,500 million. This placement was made at an interest coupon rate of 9.75%. This new issuance is the largest and most relevant issuance in the history of the country so far.
Simpson Thatcher & Bartlett LLP, acted as US counsel to the initial purchasers, while the team at Pellerano Nadal was led by Luis Rafael Pellerano, who has been advising the initial purchasers on Dominican Sovereign Bond issuances for over 15 years since the country entered the international markets.