Government $50m bond notes listed

The Bermuda Stock Exchange announced the approval of the listing of the Government of Bermuda’s BD$50 Million 4.750% Senior Notes – Due December 16, 2023. The listing is effective from the date of the closing and delivery of the Notes, on December 16, 2013.

The net proceeds of the offering of the Notes will be deposited into the Sinking Fund to cover any future budget deficits.

Butterfield Securities (Bermuda) Limited sponsored the listing of the the Notes. 

Greg Wojciechowski, president and CEO of the BSX stated, “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 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 Securities were not offered for sale in the US and have not and will not be registered under the US Securities Act of 1933. The Securities may not be sold in the US absent of registration or an exemption from registration.