$750M Government Bonds Approved On BSX

August 7, 2013

The Bermuda Stock Exchange [BSX] today [Aug 7] announced the approval of the listing of the Government of Bermuda’s US$750 Million 4.854% Senior Notes – Due 6 February, 2024. The listing is effective from the date of the closing and delivery of the Notes, 6 August, 2013.

The purpose of the Offering of the Notes is to repay all outstanding short-term indebtedness with local banks and to fund the current year’s budget deficit, with the balance to be deposited into the Sinking Fund to cover any further budget deficits.

Appleby Securities [Bermuda] Ltd. sponsored the listing of the Government of Bermuda’s US$750 Million 4.854% Senior Notes on the BSX.

Mr. Greg Wojciechowski, Chief Operating Officer of the BSX stated, “We are delighted to announce the listing of the Government of Bermuda’s Senior Notes on the BSX. We look forward to providing the Exchange’s full after market support for the Notes if trading conditions require such.

“The listing of a further public debt instrument of this size on the BSX is a significant continuation of the maturation of the domestic capital market. It is the Exchange’s hope that entities, whether in the public or private sectors, will give full consideration to the domestic capital market when they are required to undertake capital raising.”

The Notes will also be listed on the Luxembourg Stock Exchange and are to be admitted to trading on the Euro MTF Market.

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