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BSX Approves Listing Of The Government of Bermuda’s US$475 Million 4.138% Senior Notes – Due 3 January, 2023
Hamilton, Bermuda: 03 July, 2012 – The Bermuda Stock Exchange (“BSX”) today announced the approval of the listing of the Government of Bermuda’s US$475 Million 4.138% Senior Notes – Due 3 January, 2023. The listing is effective from the date of the closing and delivery of the Notes, 03 July, 2012.
The purpose of the Offering of the Notes is to repay short-term indebtedness with local banks and a BD$200 million credit facility with a local bank that matures in 2014 with the balance used to fund capital expenditure programs and for other budgeted government purposes.
Bermuda International Securities Limited, a wholly-owned subsidiary of HSBC Bank Bermuda Limited, sponsored the listing of the Government of Bermuda’s US$475 Million 4.138% Senior Notes on the BSX. HSBC Securities (USA) Inc. acted as sole lead manager and sole bookrunner for the offering.
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 another public debt instrument of this size on the BSX is a 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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This document does not constitute an offer of securities for sale in the United States. The Securities were offered pursuant to exemptions from registration under the U.S. Securities Act of 1933, as amended, and have not been and will not be registered under that Act. The Securities may not be sold in the United States absent registration or an exemption from registration.