Cleary Gottlieb reprises role on Dominican Republic bond offering
Cleary acted for the sovereign on its $1.3 billion bond offering. Simpson Thacher in the US and Pellerano in the Dominican Republic advised the underwriters.
The offering marked the fifteenth time the sovereign has tapped the international debt markets during the last nine years, instructing Cleary Gottlieb for each offering, including one earlier this year
The transaction priced on July 12, 2018, and closed on July 19, 2018. J.P. Morgan Securities was initial purchaser.
The Dominican Republic intends to use the net proceeds from the sale for general purposes, including the partial financing of the 2018 budget.
Partner Juan Giráldez led the Cleary team advising the sovereign. He is based in São Paulo while the other members are in New York.
The Simpson Thacher & Bartlet tteam advising the underwriters under US law was led by partner Jaime Mercado.
J.P. Morgan Securities instructed Pellerano & Herrera for local law. Partner Luis Rafael Pellerano led this team.
