Dominican Republic Launches Debt Buyback and New Note Offering

The government is offering to purchase the 2027 bonds at a price of $1,006.25 per $1,000 of principal, plus accrued interest. While there is no minimum participation threshold for the tender to proceed, the Republic has conditioned the buyback on the successful pricing and issuance of new New York law-governed notes. The total amount the government is willing to spend remains subject to its sole discretion, with proration clauses in place should valid tenders exceed the designated maximum.

Investors interested in the new debt may obtain a priority allocation code through the dealer managers, Citigroup Global Markets and J.P. Morgan Securities. Holders must submit their tenders through The Depository Trust Company, Euroclear, or Clearstream by the expiration deadline of 5:00 p.m. New York City time on September 21, 2026. If the conditions are met, the Republic expects to settle the transaction on September 28, 2026.