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Dominican Republic Sells $2.5 Billion of Bonds to Refinance Debt

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The Dominican Republic sold $2.5 billion of bonds, the second sovereign debt offer in Latin America this year, to pay off more expensive notes.

The country issued $1 billion in notes due 2025 and $1.5 billion in bonds due 2045, according to data compiled by Bloomberg. Some of the proceeds of the sale will be used to refinance and repurchase domestic and overseas debt, according to a person familiar with the matter who isn’t authorized to speak publicly and asked not to be identified.