Bermuda Govt Tender Offer For Senior Notes

July 7, 2022 | 0 Comments

In a filing with the Bermuda Stock Exchange, the Government of Bermuda “announced the commencement of cash tender offers for its outstanding 4.138% Senior Notes due 2023 and 4.854% Senior Notes due 2024.”

The filing stated: “The Government of Bermuda announced today the commencement of offers to purchase for cash [the “Tender Offers”] its outstanding 4.138% Senior Notes due 2023 [the “2023 Notes”] and 4.854% Senior Notes due 2024 [the “2024 Notes” and, together with the 2023 Notes, the “Existing Notes”]. The terms and conditions of the Tender Offers are set forth in the Offer to Purchase, dated July 6, 2022.

“The tender period will commence on July 6, 2022 and expire at 5:00 p.m. [New York City time] on July 12, 2022 unless extended or earlier terminated by the Government in its sole discretion [the “Expiration Time”]. The settlement of the Tender Offers is scheduled to occur on July 15, 2022 [the “Settlement Date”]. Tenders of the Existing Notes may be subject to proration, in accordance with the terms of the Tender Offers described in the Offer to Purchase.”

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