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Leon Jimenez, owner of the Presidente brewery.
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Santo Domingo.- The Securities Superintendence (SIV) on Tuesday announced the authorization of two bond issues, one for the leading brewry and another for the country’s biggest S & L.

The first are corporate bonds of the Cerveceria Nacional Dominicana (CND), brewers of the leading beer Presidente for US$23.25 million and RD$286.7 million, while the second are ordinary bonds of the S&L La Popular (APAP), for RD$1.0 billion (US$27.03 million).

The offers are oriented to local as well as foreign institutional investors, organizations and the public in general

The CND’s product is registered in the Dominican Bourse as SIVEV-022, and seeks to boost its beer production, imports, exports, purchases, sales and representation.

Fitch Rating Dominicana gave the CND a long term rating of AA+ (Dom) which implies a very high credit quality and a very low credit risk expectation.

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COMMENTS
10 comment(s)
Written by: WalterPolo, 22 Sep 2010 10:10 AM
From: Dominican Republic, Puerto Plata
Leon Jimenez lends money. They own a bank.

Cerveceria Nacional is the largest taxpayer in the country. They need to borrow money??

The Dominican State has a 10% holding of Cerveceria Nacional. Maybe the minority shareholder is borrowing against its equity??

Hmmmm.
Written by: Dwayne, 22 Sep 2010 11:29 AM
From: Dominican Republic, www.dr-dominicanrepublic.com
I'v e heard they are planning to distribute Presedente in the US. The bonds might be necessary raise enough capital to try and get a foothold in the market.

Written by: xwill7, 22 Sep 2010 12:02 PM
From: United States, El cuarto bate
dwayne,
I hope they distribute the real Presidente not the one imported by miller... Does not taste the same to me!
Written by: Rainman, 22 Sep 2010 12:37 PM
From: United States
US$23.25 = RD$286.7 million

RD$1.0 billion = US$27.03 million

The math doesn't add up.
Written by: RobertoJose, 22 Sep 2010 1:33 PM
From: United States, FREEPORT, Long Island.... ((You're blind to the fact that you're blind))
getem rainman!!!!!
Written by: JimHarrington This user is banned, 22 Sep 2010 3:41 PM
From: United States
Cerveceria Nacional Dominicana C. Por A. has failed to deleverage its capital structure and faces limited financial flexibility in the coming years. We are lowering our corporate credit rating on the company to 'B' from 'B+'. We are also revising the outlook to stable from negative. We expect the company to maintain a stable business position in the Dominican Republic.
Written by: Dwayne, 22 Sep 2010 4:14 PM
From: Dominican Republic, www.dr-dominicanrepublic.com
xwill7
I've never seen it in the states, only here. but i've heard it doesn't live up to the true Dominican beer, probably doesn't help that most people don't chill it the same way you get it here, close to freezing.

And anything bottled by Miller is going to be second rate at best.
Written by: WalterPolo, 22 Sep 2010 5:20 PM
From: Dominican Republic, Puerto Plata
Doesn´t taste the same outside the car wash or the colmadon.
Written by: xwill7, 23 Sep 2010 11:24 AM
From: United States, El cuarto bate
dwayne,
It taste like Presidente light... But I stick to Becks or heinikin here in the states until the import the real Presidente...

Walter,
the car was girl said that she loves you... you believe her don't you? lol
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From: Pakistan
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