The Dominican Republic said it raised an additional $2.27 billion in the international market on Tuesday as part of a three-part deal that included its first sale of green notes.
The sovereign issued DOP105 billion ($1.77 billion) worth of 12-year bonds in Dominican pesos and added $500 million to its 7.05% 2031 US dollar-denominated notes as part of the deal, the government said in a press release.
It priced the 10.75% 2036 notes at 99.195 to yield 10.875% compared with initial price talk that was in the low-11% area, IFR News reported. It priced the 2031 bond tap at 102.633 to yield 6.55% after opening the deal at around 6.8%, the report said.
The Dominican government previously said that it issued $750 million worth of 12-year green bonds on Tuesday to fund an ongoing buyback for its 5.5% 2025 bonds and to finance eligible green projects under its new sustainability bond framework.
Citi and JPMorgan were joint bookrunners on the bond sale and are dealer managers on the buyback.