Author Archive: Bernews1

Teekay Completes Oslo Bond Issue

Bermuda’s Teekay Offshore Partners L.P. announced yesterday [Jan.18] that it has issued approximately $100 million in senior unsecured bonds that mature in January 2017 in the Norwegian bond market. Issued in Norwegian krone, all interest and principal payments will be swapped into US dollars. The proceeds of the bonds, which will be available... Read more of this article

Proposed Amendments To Charities Act

Minister of Government Estates and Information Services Michael Scott spoke earlier this week about proposed amendments to the Charities Act 1978. There are thirteen changes that have been proposed. Speaking at the Charities Stakeholders Meeting at The Leopard’s Club, Minister Scott said, “There are approximately 400 registered charities in... Read more of this article

Videos: Premier’s Town Hall Meeting

Last night [Jan.18] Premier Paula Cox was joined by three Cabinet Ministers at the Dalton E. Tucker Primary School in Southampton, as she hosted the first in a series of Town Hall meetings to discuss the upcoming Budget. The Premier was joined by Attorney General & Minister of Justice Kim Wilson, Minister of Health Zane Desilva, and Minister of... Read more of this article

Nordic American Public Offering

Bermuda-based Nordic American Tankers Limited today [Jan. 19] announced an underwritten public offering of 5,500,000 common shares. The common shares are being offered pursuant to the company’s effective shelf registration statement. The net proceeds of the offering are expected to be used to strengthen the company’s resources, to fund... Read more of this article

Furbert: Spring Break Itinerary

The Bermuda Department of Tourism is providing North American students with a full-fledged party itinerary for Spring Break 2012. Released yesterday [Jan. 18], Bermuda Spring Break offers special hotel deals and island-wide events in February and March for students looking for an escape from their university studies and let loose on the island. Partygoers... Read more of this article

Golar Extends Petrobas Contract

Bermuda’s Golar LNG Partners LP announced today [Jan.19] that it has reached agreement with Brazilian energy company Petrobras to make certain modifications to the “Golar Winter” floating storage and regasification unit [FSRU] and to extend the term of the contract by five years to 2024. Petrobras have taken the decision to move the... Read more of this article

ILS Market Grows Investor Base

The global insurance linked security [ILS] and catastrophe bond market continues to grow its investor base, drawing in a wider, more geographically balanced pool of investors including 13 percent in Bermuda, 44 percent based in Europe and 36 percent domiciled in the US, Swiss Re says in its annual review of the market. This comes as institutional... Read more of this article

Jupiter To Close Bermuda Office

[Updated] Britain’s Jupiter Fund Management is to close its hedge fund in Bermuda this year, following substantial net outflows during the last quarter of 2011. The Company presently employs eleven people – eight of which are Bermudian. It emerged today [Jan. 19] that the firm saw net outflows of $347 million during the fourth quarter of... Read more of this article

Sandys 360: Free Basketball Clinics

Sandys 360 is hosting a series of free clinics for eight weeks beginning this Saturday [Jan.21]. The clinics will run every Saturday from 3pm to 4:30pm every Saturday, beginning January 21, for young people ages 5-15. They will cover fundamental skills such as dribbling, passing, and shooting. “Our aim is to develop the necessary fundamental skills... Read more of this article

Upcoming: Coldwell Banker Home Show

The 10th Annual Coldwell Banker Home Show will be held on Friday 17th February 2012, 3pm – 8pm and Saturday 18th February 2012 from 9:30am – 4:30pm at CedarBridge Academy. The trade exhibition is designed to showcase local business services and provide the public with a “one-stop-shopping” experience for goods and services related... Read more of this article

PLP & OBA On Guest Worker Policies

“We’ve seen over and over again that the only solution that the UBP turned OBA offers is one that would bring more guest workers to our shores and would grant sacred status to countless guest workers,” said the PLP. “If you believe that the solution to our economic problems is to open Bermuda up and bring more guest workers to our... Read more of this article

Appleby: Bell Taking Over From Morris

Kiernan Bell has been appointed as Appleby’s Bermuda Office Managing Partner, taking over from Shaun Morris who held the post for six years. This change will take effect from 26 January 2012. Ms Bell [pictured] will retain her role as Bermuda Head of Litigation & Insolvency and Shaun will return to a client-facing role as a senior partner in... Read more of this article