On May 29, 2019, the Government of the Dominican Republic placed bonds in the international capital markets for a total equivalent amount of USD2,500 million, due to the issuance of Dominican peso (DOP), 7 years bonds for DOP50,523 million (US$1,000 million), and a 30-year USD bond for USD1,500 million. This placement was made at an interest coupon rate of 9.75%. This new issuance is the largest and most relevant issuance so far in the history of the country.
Simpson Thatcher & Bartlett LLP, acted as US counsel to the initial purchasers, while the team at Pellerano Nadal was led by Luis Rafael Pellerano, who has been advising the initial purchasers on Dominican Sovereign Bond issuances for over 10 years, since the country entered the international markets.
A life dedicated to the practice of law
Luis Rafael Pellerano has more than 38 years of experience, during which he has developed a vast experience advising foreign and multinational companies that enter the Dominican market and companies in specialized industries like energy, tourism, emerging technologies, mining and financial service providers, among others.
Throughout his career he has led emblematic transactions in the Dominican Republic in areas such as financing, capital markets, and mergers and acquisitions, which remain, along with government relations, as his main areas of practice.