DOMINICAN REPUBLIC ANNOUNCES EXPIRATION OF OFFER TO PURCHASE

Santo Domingo, Dominican Republic, February 16, 2022 /PRNewswire/ — The Dominican Republic (the “Republic“) today announced the aggregate principal amount of Notes that have been validly tendered pursuant to its previously announced offer to purchase in cash the Existing Notes listed in the tables below (the “To offer“), on the terms and subject to the conditions described in the information notice of the February 9, 2022 (the “Offering Document“). The Offer expired as scheduled at 8:00 a.m. (New York City It’s time February 16, 2022. The total principal amount of the tendered Existing Bonds was $1,162,218,000.00. Capitalized terms used but not defined herein have the meaning ascribed to them in the Offer Document.

The following tables indicate the total principal amount of the Existing Bonds which have been validly tendered in response to the Offer at 8:00 a.m. (New York City It’s time February 16, 2022.

Table 1 – Existing aggregate ratings

Title of Existing Global Notes

ISIN / CUSIP code

Global Principal
Amount offered(1)

Percentage of
Global Principal
Amount offered(2)

Purchase price(3)

6.6000% bonds due 2024

144A: US25714PBZ09 / 25714P BZ0

Reg S: USP3579EAT49 / P3579E AT4

$228,658,000.00

81.97%

$1,093.25

Bonds redeemable at 5.875% due

2024

144A: US25714PBY34 / 25714P BY3

Reg S: USP3579EAS65 / P3579E AS6

$536,495,000.00

87.74%

$1,057.50

___________________

(1)

Information regarding the aggregate principal amount of the Outstanding Global Notes is based on information received from the Tender and Information Agent (as defined below).

(2)

Principal amount of each series of Existing Global Notes deposited under the Offer, expressed as an approximate percentage of the aggregate principal amount of outstanding Existing Global Notes of such series.

(3)

Per $1,000 principal amount of Existing Global Bonds validly presented and accepted for purchase. Holders whose Existing Global Notes have been validly tendered and accepted for purchase pursuant to the Offer will also receive Accrued Interest. Holders whose Existing Global Notes have been validly tendered and accepted for purchase pursuant to the Offer will be paid in US dollars as described in the Offer Document.

Table 2 – Existing local notes

Title of existing local notes

IS IN

Global Principal
Amount offered(1)

Percentage of
Global Principal
Amount offered(2)

Purchase price(3)

7.000% US dollar denominated bonds due
July 2023

DO1005244525

$397,065,000.00

79.41%

$1,090.00

___________________

(1)

Information regarding the Aggregate Principal Amount of Existing Local Notes is based on information received from CEVALDOM, Deposito Centralizado de Valores, SA

(2)

Principal amount of the Existing Local Bonds tendered to the Offer expressed as an approximate percentage of the aggregate principal amount of the Existing Local Bonds outstanding.

(3)

Per $1,000 principal amount of existing Local Notes validly tendered and accepted for purchase. Holders whose Existing Local Notes have been validly tendered and accepted for purchase pursuant to the Offer will also receive Accrued Interest. Holders whose Existing Local Notes have been validly tendered and accepted for purchase pursuant to the Offer will be paid in US dollars as described in the Offer Document.

The Offer is conditional upon, among other things, the simultaneous (or earlier) closing of an issue by the Republic of one or more series of bonds denominated in US dollars, New York debt securities governed by law, in an aggregate principal amount, with a price and terms and conditions acceptable to the Republic in its sole discretion (the “New ticket offer“). The Republic intends to use a portion of the net proceeds of the New Bond Offering to purchase the Existing Bonds accepted for purchase. The New Bond Offering has been made solely by way of a offering memorandum relating to the Offering of New Bonds, and neither this announcement nor the Offering Document constitutes an offer to sell or the solicitation of an offer to buy such new bonds.

The Republic reserves the right, in its sole discretion, not to accept valid orders to tender Existing Obligations in accordance with the terms and conditions of the Offer or to terminate the Offer with respect to one or more series for any reason whatsoever. it would be. Upon termination of the Offer with respect to a series, the tendered Existing Bonds of that series will be returned to the Holder.

The aggregate purchase price for the principal amount of a series of Existing Notes validly tendered by a Holder and accepted by the Republic will be a cash amount equal to the principal amount outstanding of such Existing Notes, multiplied by the price of purchase, plus accrued interest (the “Total purchase price“). If the Aggregate Purchase Price less Accrued Interest for all Existing Bonds validly tendered (the “Offered total purchase price“) would exceed the maximum purchase price, then the Republic will, in its sole discretion, select one or more series of existing tickets to be pro-rated based on the same or different pro-rating factors.

The purchase price applicable to each series of Existing Notes will be payable in US dollars.

Settlement for Existing Securities validly offered and accepted should take place on Tuesday, February 22, 2022subject to change without notice (the “Settlement date for existing tickets“).

If the Republic accepts all or part of a holder’s offer of Existing Notes of any series, the holder will be entitled to receive for such Existing Notes the applicable purchase price plus accrued interest, which will be paid on the date settlement of the existing notes if the conditions of the Offer are satisfied.

At February 16, 2022at or around 5:00 p.m. (New York City time), subject to change without notice, the Republic plans to announce: (i) the maximum purchase price; (ii) the total purchase price offered; (iii) the aggregate principal amount of the Offers of each series of Existing Bonds which has been accepted; and (iv) any pro rata submissions of any series of Existing Securities.

The Offer Document can be downloaded from the website of Global Bondholder Services Corporation (the “Tender and Information Officer“) at https://www.gbsc-usa.com/dominican/ or obtained from the tender and information agent or from one of the concession-managers at the coordinates below. Questions regarding the offer can be directed to the dealership managers at the contact details below.

The Dealer Managers of the Offer are:

Citigroup Global Markets Inc.

388 Greenwich Street, 4and Ground negotiation

New York, New York 10013

united states of america

Attention: Accountability Management Group

Collect: +1 (212) 723-6106

Toll Free: +1 (800) 558-3745

Email: [email protected]

JP Morgan Securities LLC

383 Madison Avenue

New York, New York 10179

united states of america

Attention: Latin American Debt Capital Markets

Collect: +1 (212) 834-7279

Toll Free: +1 (866) 846-2874

The Submission and Information Agent for Existing Global Securities is:

Global Bondholder Services Company
65 Broadway – Suite 404
New York, New York 10006
united states of america
Attention: Corporate Actions

Banks and brokers call: (212) 430-3774
Toll free +1 (855) 654-2014
E-mail: [email protected]

By fax:
(For eligible establishments only):
+1 (212) 430-3775/3779

Confirmation:
+1 (212) 430-3774

By email:

By night courier:

By the hand:

65 Broadway – Suite 404

New York, New York 10006

united states of america

65 Broadway – Suite 404

New York, New York 10006

united states of america

65 Broadway – Suite 404

New York, New York 10006

united states of america

Important Notice

This announcement is for informational purposes only. It is not complete and may not contain all the information you need to consider before depositing Existing Securities. You should read the entire offering document.

This announcement is not an offer to buy in cash or a solicitation of invitations to offers to buy in cash for Existing Securities. The distribution of documents relating to the Offer and the transactions contemplated therein may be restricted by law in certain jurisdictions. The Offer is made only by the Offer Document and in jurisdictions where it is legal to do so. The Offer is void in all jurisdictions where it is prohibited. If any documents relating to the Offer come into your possession, you are responsible for informing yourself of and complying with all such restrictions. Each person accepting the Offer shall be deemed to have represented, warranted and covenanted (with respect to himself and any person for whom he is acting) that he is not a person to whom it is unlawful to make the Offer pursuant to the Offer Document, that it has not distributed or transmitted the Offer Document or any other document or material relating to the Offer to any such person, and that it has complied with all laws and regulations applicable to it for the purpose of participating in the Offer. Neither the Republic nor the Dealer Managers accept any liability for any breach by any person of the applicable restrictions in any jurisdiction.

The Offer Materials, including this announcement, do not constitute, and may not be used in connection with, an offer or solicitation in any location where offers or solicitations are not permitted by law. This announcement and the Offer Document do not constitute an offer to buy or a solicitation of an offer to sell securities in any jurisdiction to any person to whom it is unlawful to make such offer or solicitation in such jurisdiction. In any jurisdiction in which the Offer is required to be made by an approved broker or dealer and in which any Dealer Manager or any of its affiliates is so approved, it shall be deemed to have been made by the Dealer Managers or such affiliates on behalf of the Republic.

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SOURCE The Dominican Republic

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