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Santo Domingo.- The power company EGE-Haina issued US$175 million bonds last Thursday in a session in which buyers offered 10 times more than the amount available. The issue was conducted under the regulations of the United States Securities and Exchange Commission (SEC).

More than 130 international buyers offered more than US$1.7 billion to acquire the EGE-Haina bonds. "The large number of offers received shows the high degree of confidence that international investors have, not only in the company, but also in Dominican Republic," said EGE-Haina general manager Tito Sanjurjo.

The 10 year bonds have an 9.5% annual interest rate.

 

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COMMENTS
4 comment(s)
Written by: Maria, 23 Apr 2007 8:39 AM
From: DR
A similar approach could be used by Brazil and the DR to create Ethanol Plants...

The future of the DR looks very bright in that it is entirely possible for the DR to be energy independent long before the US and other major economies are able to do so...

Whne one considers that the DR can become the next Hong Kong because of CAFTA...the worlds best tourist destination for Carribean beaches and hospitable people...and the worlds best and most coveted tax haven...

Do it Fernandez !!!!!!!!
Written by: Thelmo Almeyda Rancier, 5 May 2007 3:22 PM
From: Bogota N.J,.USA
Maria,we could never be energy self sufficient when we have
to depend on foreign capital such as the ethanol plants US$50
millions.Haitians cheap labor to cut the cane for us since Dominicans don't cut cane.
Thaiwan's US$1.2 billion ,85% investment coal-fired power plants,obsolite from the start since coal isn't used any more for generating electricity due to the cost as well as pollutant nor do we invest in our own country for lack of trust. Notice DR gvt
has to be the co-maker to loa
Written by: Thelmo Almeyda Rancier, 5 May 2007 3:55 PM
From: Bogota N.J,.USA
cont.
As to compare DR to Hong Kong is like comparing it to Puerto Rico. Hong Kong has been a British commonwealth for over two hundred years and PR a US commonwealth for 107 years.
The two empires were well organized from the start and educated its colonials to their immage.
So where is the similarity of DR-CAFTA to Hong Kong ? I would say so, after our own people get educated appar with them in the business world. DR system of gvt " Politics is our survival ,corruption is our unjust means".
Written by: Thelmo Almeyda Rancier, 5 May 2007 6:15 PM
From: Bogota N.J,.USA
cont.
Tax haven yes and for how long i? Every gvt. must levy taxes on their own people to keep a well run gvt. No taxes no gvt.
DR is The only country where people blame their gvt. for evrything from lack of electricity to lack of water and unpaved streets to rise in cost of living and transportation and sewer. Yet they don't want to pay taxes and instead steal electricity
because to their believe is theirs as part of being Dominicans.
The gvt. subsidizes all these instead of jailing them
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