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Dominican Republic - Tender Offer 2024 (US) - New Bond Pricing and Tender Acceptance

THE DOMINICAN REPUBLIC ANNOUNCES PRICING OF NEW NOTES OFFERING AND AGGREGATE PRINCIPAL AMOUNT OF TENDERS ACCEPTED FOR PURCHASE - USP3579EBD87 - US25714PCV85

25 JUNE 2024


Full announcement including full disclosures and disclaimers available via Prnewswire: Source: Dominican Republic

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"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.



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."


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25 JUNE 2024


Full announcement including full disclosures and disclaimers available via Prnewswire: Source: Dominican Republic

Scroll below for information on previous deals related to this Issuer


SANTO DOMINGO, Dominican Republic, June 25, 2024 /PRNewswire/ -- The Dominican Republic (the "Republic") announced today the aggregate principal amount of bonds that have been validly tendered pursuant to its previously announced offer to purchase for cash the bonds (the "Existing Bonds") listed in the table below (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. The aggregate principal amount of Existing Bonds validly tendered was US$1,009,904,000. Capitalized terms used but not defined herein have the meaning ascribed to them in the Offer Document.


The following table indicates the aggregate principal amount of Existing Bonds that had been validly tendered pursuant to the Offer as of 8:00 a.m. (New York City time) on June 25, 2024.



The Offer is conditioned, among other things, on the concurrent (or earlier) closing of an issuance by the Republic of one or more series of DOP-denominated and/or U.S. dollar-denominated, New York law-governed debt securities, in an aggregate principal amount, with pricing and on terms and conditions acceptable to the Republic in its sole discretion (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 has been made solely by means of one or more 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 debt securities."


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THE DOMINICAN REPUBLIC ANNOUNCES OFFER TO PURCHASE EXISTING BONDS - USP3579EBD87 - US25714PCV85


17 JUNE 2024


Full announcement including full disclosures and disclaimers available via Prnewswire: Source: Dominican Republic

Scroll below for information on previous deals related to this Issuer


SANTO DOMINGO, Dominican Republic, June 17, 2024 /PRNewswire/ -- The Dominican Republic (the "Republic") announced today the commencement of an offer to purchase for cash (the "Offer") from each registered holder or beneficial owner (each, a "Holder" and, collectively, the "Holders") outstanding bonds of the series set forth in the table below (the "Existing Bonds"), upon the terms and subject to the conditions set forth in the offer document dated June 17, 2024 (the "Offer Document").

The Republic will determine in its sole discretion the maximum amount to be paid by the Republic for the outstanding principal amount of Existing Bonds validly tendered and accepted for purchase by the Republic pursuant to the Offer, not including interest accrued and unpaid thereon (the "Maximum Purchase Price").


The Offer is not conditioned upon any minimum participation of the Existing Bonds, but it is conditioned, among other things, on the concurrent (or earlier) closing of the issuance by the Republic of one or more series of DOP-

denominated and/or U.S. dollar-denominated, New York law-governed debt securities (the "New Notes") in an aggregate principal amount, with pricing and on terms and conditions acceptable to the Republic in its sole discretion (the "New Notes Offering"). The New Notes Offering will be made solely by means of one or more offering memoranda relating to that offering of the New Notes, and neither this announcement nor the Offer Document constitutes an offer to sell or the solicitation of an offer to buy the New Notes.  


The Republic reserves the right, in its sole discretion, not to accept any valid orders to tender Existing Bonds in accordance with the terms and conditions of the Offer ("Tenders"), to modify the fixed price per outstanding US$1,000 principal amount indicated in the rightmost column in the table below (the "Purchase Price") for the Existing Bonds, or to terminate the Offer for any reason. In the event of a termination of the Offer, the tendered Existing Bonds will be returned to the tendering Holder.


The total purchase price for the principal amount of the Existing Bonds validly tendered by a Holder and accepted by the Republic (the "Total Purchase Price") will be an amount in cash equal to the outstanding principal amount of such Existing Bonds, multiplied by the Purchase Price, plus accrued and unpaid interest on such Existing Bonds up to, but excluding, the Settlement Date ("Accrued Interest"). If the Total Purchase Price minus Accrued Interest for all validly tendered Existing Bonds (the "Tendered Aggregate Purchase Price") would exceed the Maximum Purchase Price, then the Republic will, in its sole discretion, apply a proration factor to the Tenders."




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THE DOMINICAN REPUBLIC ANNOUNCES EXPIRATION OF OFFER TO PURCHASE AND APPLICABLE EXCHANGE RATE


12 SEPTEMBER 2023


Full announcement including full disclosures and disclaimers available via Prnewswire


"SANTO DOMINGO, Dominican Republic, Sept. 12, 2023 /PRNewswire/ -- The Dominican Republic (the "Republic") announced today (i) the aggregate principal amount of bonds that have been validly tendered pursuant to its previously announced offer to purchase for cash the bonds (the "Existing Bonds") listed in the table below (the "Offer"), pursuant to the terms and subject to the conditions described in the offer document dated September 5, 2023 (the "Offer Document"), and (ii) that the exchange rate at which the Purchase Price and Accrued Interest payable in connection with the Offer will be converted to U.S. dollars is DOP56.7011 per US$1.00 (the "Applicable Exchange Rate"). The Offer expired as scheduled at 8:00 a.m. (New York City time) on September 12, 2023. The aggregate principal amount of Existing Bonds validly tendered was DOP40,792,050,000. Capitalized terms used but not defined herein have the meaning ascribed to them in the Offer Document.


The following table indicates the aggregate principal amount of Existing Bonds that had been validly tendered pursuant to the Offer as of 8:00 a.m. (New York City time) on September 12, 2023."



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DOMINICAN REPUBLIC ANNOUNCES OFFER TO PURCHASE EXISTING BONDS


05 SEPTEMBER 2023


Full announcement including full disclosures and disclaimers available via Prnewswire


"SANTO DOMINGO, Dominican Republic, Sept. 5, 2023 /PRNewswire/ -- The Dominican Republic (the "Republic") announced today the commencement of an offer to purchase for cash (the "Offer") from each registered holder or beneficial owner (each, a "Holder" and, collectively, the "Holders") outstanding notes of the series set forth in the table below (the "Existing Bonds"), such that the Tendered Aggregate Purchase Price (as defined below) to be paid for the outstanding principal amount of Existing Bonds validly tendered and accepted for purchase by the Republic pursuant to the Offer does not exceed a maximum amount to be determined by the Republic in its sole discretion (the "Maximum Purchase Price"). The terms and conditions of the Offer are set forth in the offer document dated September 5, 2023 (the "Offer Document").

The Offer is not conditioned upon any minimum participation of the Existing Bonds, but it is conditioned, among other things, on the concurrent (or earlier) closing of the issuance by the Republic of one or more series of DOP-denominated or U.S. dollar-denominated, New York law-governed debt securities (the "New Notes") in an aggregate principal amount, with pricing and on terms and conditions acceptable to the Republic in its sole discretion (the "New Notes Offering"). The New Notes Offering will be made solely by means of one or more offering memoranda relating to that offering of the New Notes, and neither this announcement nor the Offer Document constitutes an offer to sell or the solicitation of an offer to buy the New Notes. "


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(1) The Purchase Price and Accrued Interest of the Existing Bonds will be converted into U.S. dollars at the Applicable Exchange Rate and paid in U.S. dollars.


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