Goldman Sachs finances Dominican company Diesco for RD$4 billion

January 19, 2017

Manuel Diez greets President Danilo Medina along with Diesco directors.

The multinational will provide capital to support Diesco's growth and expansion plans in the country and abroad.

Today Grupo Diesco announced the signing of a financing agreement with Goldman Sachs Group, one of the world’s largest securities and investment banking groups, in the amount of RD$ 4 billion.

The credit transaction accounts for the first investment in the country by this global financial institution and the most important in Diesco’s history, providing significant support to the business group and to the investment climate in the Dominican Republic.

This exclusive information was provided by Manuel Diez Cabral, President of Diesco, to the President of the Dominican Republic, Danilo Medina, who stated that this marks a milestone in the national productive sector and reaffirms the confidence of large groups of international investors in the country.

Diez explained that this financial agreement will allow Diesco to speed up the realization of its vision of expansion in the Dominican Republic and the region. "We have great opportunities to venture into new markets with the innovation of new products and services that will contribute to the development of the country's economic sector, and to create new and better realities for all, which, thanks to the support and confidence of Goldman Sachs, we will be able to realize in the short and medium term.”

Goldman Sachs was founded in 1869 and is headquartered in New York City. Goldman Sachs Specialty Lending Group was created in 2004 to operate as the investment and financing platform for medium-sized companies within Goldman Sachs Group, Inc.

On the other hand, Diesco was certified by Feller Rate Dominicana with an A+ rating; it has a track record of 50 years of operation in different business sectors mainly in the industrial sector and in the manufacturing of plastic containers and non-alcoholic beverages, and has recently entered into the real estate development and investment service markets. At present, it operates in the Dominican Republic and Puerto Rico, from where it serves more than 25 countries and markets in the region with a view toward future expansion.

In this transaction, Diesco was advised by Advanced Capital Partners, and was represented by Goodwin, its United States attorneys, and by Headrick Rizik Alvarez & Fernández in the Dominican Republic.