Pellerano & Herrera advised on US$1.2 billion sovereign bond offering

Pellerano & Herrera represented J.P.Morgan Securities LLC in the US$1.200 billion bond offering by the Dominican State due 2027 at a 5.95% rate. Investment bank J. P. Morgan Securities LLC served as initial purchaser and Banco de Reservas de la República Dominicana as Co-Manager. Pellerano & Herrera’s team was led by partner Luis R Pellerano and Ricardo Pellerano N., associate.

The sovereign bond issuance corresponds to this year’s Financing Plan, duly consigned in Law No. 690-16, which approves the General State Budget for 2017 and will serve to finance this year’s estimated deficit.

Pellerano & Herrera is the only Dominican law firm that has advised on bond offerings by the Dominican State. Simpson Thacher & Bartlett served as international counsel for J.P. Morgan Securities LLC and Cleary Gottlieb Steen & Hamilton served as counsel for the Dominican State.