Bermuda puts up cash for old notes

Bermuda puts up cash for old notes

Bonds Debt Capital Markets Corporate & Sovereign Strategy Fixed Income Caribbean

Bermuda announced Monday that it intends to use cash on hand to repurchase up to $500 million in outstanding bonds that mature between 2023 and 2029. The island government offered to pay $1,071.34 for every $1,000 in 4.138% 2023 notes as well as $1,112.38 for 4.854% 2024 notes, $1,100.53 for 3.717% 2027 notes and $1,180.35 for 4.75% 2029 notes, it said in a press release. Bermuda said it has $475 million in outstanding 2023 notes, $550 million in 2024s, $665 million in 2027s and $620 million in

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