Top Dominican brewery offers US$160M in 5-year corporate bonds
Santo Domingo.- Leon Valores, Inversiones Popular and BHD Valores offer five-year corporate bonds of RD$4.6 billion ($160 million), of the Cerveceria Nacional Dominicana, the highest ever approved by Dominican Republic’s stock market superintendence since 2003.
The bonds have a minimum purchase of RD$100,000, with fixed rate and several with variable rates, to be established afterwards, said the traders.
Brewery president Rafael Menicucci said the bonds are the company’s contribution to expand the local stock market’s depth for local and foreign investors.
“The resources obtained will be used for the reconstruction of our financial commitments,” Menicucci said.
The companies Fitch Dominicana and Feller-Rate gave the issuer a risk rating of Dominican Republic AA+ and A respectively, which reflects a low credit risk expectation and a solid capacity for payment.
The CND is the country’s leading brewery company, with a capacity to produce 5 million hectoliters annually.
Source: DominicanToday.com