Bermuda funds buyback with new bond

Bermuda funds buyback with new bond


Bermuda has raised $665m from the sale of a 2027 cross-border bond, putting aside part of the proceeds to pay for a bond buyback of its 2020 and 2023 notes, sources told LatinFinance.The sole bookrunner HSBC priced the long 10-year bond at 99.986 to yield 3.717%, or 195bp over US Treasuries, a debt capital markets banker said.The initial price talk put the spread on the low 200bp area, but investor interest moved it down to 195bp by the time the deal launched, the banker said. The order books we

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