Major Dominican Resort Group to Issue $36 Million in Bonds

The Metro Country Club Group has commenced issuance of bonds for a total of $38.6 million, mostly meant for foreign investors and the general public. The bonds were approved by the Dominican Exchange Superintendence (SIV) this past July 3.

This bonds placement is pertinent to tourism real estate development in the Juan Dolio zone and to the reconstruction of the beach there, where the government invests approximately $10 million Dominican pesos, through the Tourism Ministry.

The minimum allowed for investment is $10,000 at a fixed yearly interest rate of 10 percent, to go to the first stage of the project valued at $12.8 million.

Placement of this second bonds emission by the Metro Country Club is secured with real estate property, and the agent is Valores Leon, S.A. Risk is rated at a triple B (BBB) ranking.

Metro’s initial bonds issue is known to be the first such transaction of the tourism sector in the exchange market.