SANTO DOMINGO.- Dominican Republic’s Securities Superintendence (SIV) approved a RD$5.0 billion (US$128.2 million) public offering of leveraged debt bond by the Banco Popular, the country’s biggest bank.
The issue approved August 10 consists of a single series, with a face value of RD$1.0 million.
The Popular Bank issue would pay a fixed or variable annual rate in Dominican pesos, to be specified in the prospectus and the public sale notice published before the securities are openly transacted.
The one-time bond issue should mature in not less than 10 years, starting from the issue date.
The funds raised by Popular will be integrated as secondary capital within the Monetary and Financial Law’s limits, with which the issuer could satisfy the financing demand of the productive sectors.