JANUARY 2009

Biggest Dominican resort to reconstruct its bonds of US $250M

Biggest Dominican resort to reconstruct its bonds of US $250MThe reconstruction entails the issuing of a new series of titles

PUNTA CANA, Dominican Republic. - The group Cap Cana, S.A. announced a reconstruction process for its US $250 million in international bonds that mature in 2013, and since December takes the necessary steps to conclude the operation on those issues during January.

The reconstruction entails the issuing of a new series of titles to replace the previous ones, and begun in December by the company Weston Funding LLC, jointly with a public offer on the part of Weston, to buy bonds from those investors who prefer to cash them in.

The reconstruction entails certain requirements, as there’s a proposal to modify the original bond, among them, a deposit of US $12 million in an escrow account to guarantee the next dividend payment, expected in May. Cap Cana requested a waiver for that requirement on the original bond on December 19.

The process to obtain the number required for the consent of the diverse bondholders during the Christmas and New Year celebrations made it necessary to extend the term to respond to that request for consent to mid January.

Cap Cana said so far most of the bondholders that have responded have agreed to the renegotiation, and it’s part of a general reconstruction strategy undertaken by the Board of Directors, that aims to renegotiate with the bondholders now.

It said international experts and investors agree that Cap Cana is taking the initiative against external events and will be among the first companies in the region to successfully overcome the difficulties.

The group that develops the country’s largest resort said when the process concludes, it’ll remain as one of the strongest companies, despite the overall effects of the global crisis.

Dominican Today, 06.01.09

ASONAHORES presents its new edition of « Welcome Punta Cana »

ASONAHORES presents its new edition of « Welcome Punta Cana »Tourist guide of East Zone

BREAKING NEWS: The National Association of Hotels and Restaurants, Inc. (ASONAHORES), with the support of the Ministry of Tourism, launched the new edition of « Welcome Punta Cana », tourist guide specialized in the complementary offer of the East Zone.

This guide, which is published by taking into account the tendency of the visitors to seek entertainment alternatives out of the hotels during their holidays, was launched for the first time in December 2007.

« WELCOME Punta Cana » is a promotional program which presents to the tourists the various places that they can visit during their stay in Punta Cana-Bávaro.

This is a practical review which contains a directory of the bars, restaurants, discotheques, stores, casinos, themes’ parks, excursions, places of interest, factories and stores of cigars, rents a car and other services offered in the zone, allowing the tourists to plan their activities.

This new edition was edited in 50.000 Spanish and English copies and will be available for free in the hotels, the rents a car, the shopping malls, the restaurants and other businesses of Bávaro-Punta Cana.

Thelma Martínez and Paola Gómez, Director and Coordinator of Marketing of ASONAHORES managed the project.

Dolores Vicioso of DR1 was responsible for the contents while the design of the review was carried out by Miguel Cepeda.

Punta Cana Live, 15.01.09

Punta Cana to host environmental seminar in Dominican East

Punta Cana to host environmental seminar in Dominican EastWater, fisheries, health, climate…

BREAKING NEWS: NEW YORK.- United States and Dominican journalists who specialize in reporting on the environment and ecosystems around the world will participate in the traditional seminar in Dominican Republic, organized by the newspaper The New York Times’ Environmental Development Institute, Columbia University and the Punta Cana Ecological Foundation.

In a statement the organizers said among others the topics to be addressed will be water, fisheries, health, climate and the economic impact caused by environmental degradation.

The seminar, scheduled from March 15 to 20, will include lectures, discussions and a workshop.

The university’s Center for the Environment, Economy and Society said reporters and editors will be provided with the latest information available on critical issues they’ll have to deal with and the models the media can use to help change the environmental situation with their reporting, and the economic consequences businesses must confront.

Our goal is for the public to know through the information the level of damages caused to the environment and the way in which with their contributions and decisions it’s possible to change the future of the Earth, said the statement, adding that the New York Times and the Punta Cana Foundation will cover the cost of registration and the presentations.

Dominican Today, 20.01.09

Sotogrande, Cap Cana and Caja Duero will work together

Sotogrande, Cap Cana and Caja Duero will work togetherOn a luxury project in Dominican Republic

BREAKING NEWS: PUNTA CANA, Higuey. – The Cap Cana local company and the Spanish Sotogrande and Caja Duero companies presented the building work of the « Sotogrande en Cap Cana » project which includes the construction of 522 luxury apartments in Punta Cana (East) with an investment of 235 million dollars.

Cap Cana provides the 50% of investments in this business. The « Sotogrande en Cap Cana » project, located right nearby of the Las Iguanas golf course, designed by Jack Nicklaus, includes various models of apartments, from 90 square meters to residences in attic of 350 square meters.

According to experts opinions, the union of the three companies which are working on this project development guarantees one of the most luxurious products of the Caribbean area, whose first phase is located in first line on the beach, the most privileged zone of the housing property.

Representatives of the national and international tourist sector attended the presentation ceremony of the project.

Francisco Javier García, secretary of Tourism of Dominican Republic, said that the opening of this last was a good news for the country, because it brings investments when the international financial crisis affects the world.

García indicated that the arrival of Sotogrande, a name of luxury hotels of the NH company, is an added-value for the Dominican tourist sector.

It is an great honor for the country to receive in Cap Cana a hotel of the NH chain, company which carries out great investments and, consequently, will bring great resources which will be useful for the development of the nation” he declared.

Punta Cana Live, 26.01.09