Bermuda Breaks out Benchmark

Jun 27, 2012

Bermuda has raised $475m in new 2023 bonds, completing its second-ever visit to the international DCM. Despite a Fitch downgrade earlier Tuesday morning, the deal drew demand heard reaching $1.3bn. The Aa2/AA/AA minus rated sovereign priced at par, with a 4.138% coupon, to yield UST+250bp, in line with 250bp-area guidance, which followed previous mid to high-200bp indications. Investors were...

To continue reading please take a free trial, subscribe or login below.


Already have an account?

Subscribe

Subscribe now for unlimited access to all current and archive news, data and market analysis. 

Subscribe

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial

LatinFinance Events

Poll

Who will be Brazil's next finance minister?

Vote    




“The crisis has been a setback for reserve diversification."

Jan Dehn, Ashmore Investment Management