Pellerano & Herrera assisted Underwriters in Dual Sovereign Bond Offering

Pellerano & Herrera represented Citigroup Global Markets Inc. and J.P. Morgan Securities LLC in two 144A/Reg. S offerings, including a $1 billion aggregate principal amount of bonds due 2048 and a DOP40 billion aggregate principal amount of bonds due 2023. BanReservas acted as co-manager with respect to both series of bonds. The transaction was closed on February 15, 2018.

The Dominican Republic intends to use the net proceeds from the sale of the bonds for general purposes of the government, including the partial financing of the 2018 budget.

Pellerano & Herrera’s team was led by senior associate, Caroline Bonó.

Simpson Thacher & Bartlett also served the underwriters as US counsel and Cleary Gottlieb Steen & Hamilton represented the Dominican State.