SANTO
DOMINGO, Dominican Republic, June 25,
2024 /PRNewswire/ -- The Dominican Republic (the "Republic") announced
today the aggregate principal amount of bonds listed in the table
below (the "Existing Bonds") that has been validly tendered and
accepted for purchase pursuant to its previously announced offer to
purchase for cash the Existing Bonds (the "Offer"), pursuant to the
terms and subject to the conditions described in the offer document
dated June 17, 2024 (the "Offer
Document"). The Offer expired as scheduled at 8:00 a.m. (New York
City time) on June 25, 2024.
Capitalized terms used but not defined herein have the meaning
ascribed to them in the Offer Document.
Holders of Existing Bonds validly tendered and accepted for
purchase by the Republic will receive US$1,000 per US$1,000 principal amount tendered (the "Purchase
Price") plus accrued and unpaid interest on such Existing Bonds up
to, but excluding, the Settlement Date (as defined below) ("Accrued
Interest").
The Maximum Purchase Price for all Existing Bonds accepted for
purchase is US$1,009,904,000. The
Tendered Aggregate Purchase Price of the Existing Bonds validly
tendered is US$1,009,904,000. Since
the Tendered Aggregate Purchase Price does not exceed the Maximum
Purchase Price, all Existing Bonds validly tendered pursuant to the
Offer have been accepted for purchase, and, accordingly, there will
be no proration.
The following table indicates the aggregate principal amount of
Existing Bonds that have been validly tendered and accepted
pursuant to the Offer.
Title of Existing
Bonds
|
ISIN /
CUSIP
|
Aggregate
Principal
Amount Tendered(1)
|
Aggregate
Principal
Amount of Tenders
Accepted
|
Aggregate
Principal
Amount Remaining
Outstanding
|
Purchase
Price(2)
|
5.500%
Bonds due 2025
|
P3579E BD8 /
USP3579EBD87 (Reg S)
25714P CV8 / US25714PCV85 / (144A)
|
US$1,009,904,000
|
US$1,009,904,000
|
US$262,298,000
|
US$1,000
|
|
|
|
|
|
|
(1)
|
Information regarding
the aggregate principal amount of Existing Bonds tendered is based
on information received from the Tender and Information Agent (as
defined below).
|
(2)
|
Per US$1,000 principal
amount of the Existing Bonds validly tendered and accepted for
purchase. Holders whose Existing Bonds were validly tendered and
are accepted for purchase pursuant to the Offer will also receive
Accrued Interest.
|
The Republic also announced the pricing of offerings of
US$500,000,000 aggregate
principal amount of 7.050% Bonds due 2031, US$750,000,000 aggregate principal amount of
6.600% Bonds due 2036 and DOP105,000,000,000 aggregate
principal amount of 10.750% Bonds due 2036 (collectively, the
"New Notes Offering"). The Offer is conditioned, among other
things, on the concurrent (or earlier) closing of the New Notes
Offering. The Republic intends to use a portion of the net proceeds
from the New Notes Offering to purchase the Existing Bonds accepted
for purchase. The New Notes Offering was made solely by means of
offering memoranda relating to the New Notes Offering, and neither
this announcement nor the Offer Document constitutes an offer to
sell or the solicitation of an offer to buy any such new bonds.
The settlement of validly tendered and accepted Existing Bonds
is expected to occur on Monday, July 1,
2024, subject to change without notice (the "Settlement
Date"). Holders of validly tendered and accepted Existing Bonds
will be entitled to receive for such Existing Bonds the Purchase
Price and Accrued Interest, which will be paid in U.S. dollars on
the Settlement Date if the conditions of the Offer are met.
The Offer Document may be downloaded from the website of Global
Bondholder Services Corporation (the "Tender and Information
Agent") at https://www.gbsc-usa.com/dominican/ or obtained from the
Tender and Information Agent or from any of the Dealer Managers at
the contact information below. Questions regarding the Offer may be
directed to the Dealer Managers at the below contact
information.
The Dealer Managers for
the Offer are:
|
|
|
|
Citigroup Global
Markets Inc.
388 Greenwich Street,
4th Floor Trading
New York, New York
10013
United States of
America
Attn: Liability
Management Group
Collect: +1 (212)
723-6106
Toll-Free: +1 (800)
558-3745
Email:
ny.liabilitymanagement@citi.com
|
|
J.P. Morgan
Securities LLC
383 Madison
Avenue
New York, New York
10179
United States of
America
Attn: Latin America
Debt Capital Markets
Collect: +1 (212)
834-7279
Toll-Free: +1 (866)
846-2874
|
|
|
|
|
|
The Tender and
Information Agent for the Existing Bonds is:
|
|
|
|
|
|
|
Global Bondholder
Services Corporation 65 Broadway – Suite 404
New York, New York 10006
United States of America
Attn: Corporate Actions
|
|
|
|
|
|
|
|
Banks and Brokers call:
+1 (212) 430-3774
Toll free +1 (855) 654-2014
Email: contact@gbsc-usa.com
Offer Website: https://www.gbsc-usa.com/dominican/
|
|
|
|
|
|
|
|
By facsimile:
(For Eligible Institutions only):
+1 (212) 430-3775/3779
|
|
|
|
|
|
|
|
Confirmation:
+1 (212) 430-3774
|
|
|
|
|
|
|
By
Mail:
|
By Overnight
Courier:
|
By
Hand:
|
|
65 Broadway – Suite
404
New York, New York
10006
United States of
America
|
65 Broadway – Suite
404
New York, New York
10006
United States of
America
|
65 Broadway – Suite
404
New York, New York
10006
United States of
America
|
|
Important Notice
This announcement is for informational purposes only. It is not
complete and may not contain all the information that you should
consider before tendering Existing Bonds. You should read the
entire Offer Document.
This announcement is not an offer to purchase for cash or a
solicitation of invitations for offers to purchase for cash any
Existing Bonds. The distribution of materials relating to the Offer
and the transactions contemplated thereby may be restricted by law
in certain jurisdictions. The Offer is being made only by the Offer
Document and in those jurisdictions where it is legal to do so. The
Offer is void in all jurisdictions where it is prohibited. If
materials relating to the Offer come into your possession, you are
required to inform yourself of and to observe all of these
restrictions. Each person accepting the Offer shall be deemed to
have represented, warranted and agreed (in respect of itself and
any person for whom it is acting) that it is not a person to whom
it is unlawful to make the Offer pursuant to the Offer Document, it
has not distributed or forwarded the Offer Document or any other
documents or materials relating to the Offer to any such person,
and that it has complied with all laws and regulations applicable
to it for purposes of participating in the Offer. Neither the
Republic nor the Dealer Managers accepts any responsibility for any
violation by any person of the restrictions applicable in any
jurisdiction.
The materials relating to the Offer, including this
announcement, do not constitute, and may not be used in connection
with, an offer or solicitation in any place where offers or
solicitations are not permitted by law. This announcement and the
Offer Document do not constitute an offer to buy or a solicitation
of an offer to sell any securities in any jurisdiction to any
person to whom it is unlawful to make such offer or solicitation in
such jurisdiction. In any jurisdiction in which the Offer is
required to be made by a licensed broker or dealer and in which any
Dealer Manager or any of its affiliates is so licensed, it shall be
deemed to be made by the Dealer Managers or such affiliates on
behalf of the Republic.
Media Contact for the Dom REP : Maria Jose Martinez
Public Credit Viceminister +1-809-687-5131 ext. 2519
mmartinez@creditopublico.gov.do
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content:https://www.prnewswire.com/news-releases/the-dominican-republic-announces-pricing-of-new-notes-offering-and-aggregate-principal-amount-of-tenders-accepted-for-purchase-302182511.html
SOURCE The Dominican
Republic