Bermuda - Government bonds listed with 4.75 per cent yield

By added on 17/12/2013

The Government of Bermuda’s senior notes will yield 4.75 per cent, indicating a healthy demand for the bond, reports Royal Gazette.

When Finance Minister Bob Richards announced the bond offering at the beginning of August, he said he could not prejudge what the interest rates would be, and could not say how they would be priced.

But he did indicate that the interest rates would probably be in a similar range to the US dollar Bermuda Government bond sale, where demand for the US$750 million issue has meant a yield of 4.85 per cent.

“There is an appetite among Bermudian men and women for a Bermuda Government piece of paper,” he said at the time.

The Bermuda Stock Exchange stated the yield when announcing the notes’ admission to their Official List.

The BSX stated that the admission date of the bonds is today, December 16, and describes them as being issued by the Government of Bermuda. The listing sponsor is Butterfield Securities (Bermuda) Limited. The notes are redeemable on Dec 16, 2023.