The liquidity obtained from the issuance of the bonds will be used to increase the loan portfolio, especially the mortgage segment.
SANTO DOMINGO.- The Popular Association of Savings and Loans (APAP), placed its bond offering for an amount of 5 billion pesos, consolidating its role as a securities issuer in the Dominican market.
"Because it is a public offering of subordinated debt, the recipients of the issuance are legal entities, national or foreign, that are qualified as professional investors and legal entities duly recognized by the Superintendency of the Securities Market," said Jinny Alba, Executive Vice President of Treasury at APAP.
The financial institution's executive added that the bonds feature a fixed interest rate of 11.00% in Dominican pesos, with semi-annual interest payments, a ten-year term, and a maturity date of February 24, 2035.
Jinny Alba. (EXTERNAL SOURCE).
“The liquidity obtained from the bond issuance will be used to increase the loan portfolio, especially the mortgage segment, as well as to expand APAP’s investment portfolio. In turn, the funds will form part of the institution’s secondary capital, further strengthening our already robust capitalization,” Alba emphasized, highlighting the benefits of this issuance.
This issuance has the approvals of the Superintendency of Banks, the Superintendency of the Securities Market and the Superintendency of Pensions.
