Bermuda issues bonds for buyback, COVID-19 response

Bermuda issues bonds for buyback, COVID-19 response

Bonds Debt Capital Markets Corporate & Sovereign Strategy Fixed Income Caribbean

Bermuda priced a two-part bond deal on Monday, raising $1.35 billion to roll over debt and cover rising costs from the COVID-19 pandemic, according to a source familiar with the deal. Bermuda priced $675 million in 2.375% 2030 notes at 99.885 to yield 2.388%, or 170 basis points over US Treasury notes, and another $675 million in 3.375% 2050 notes at 99.719 to yield 3.39%, or 195 basis points over US Treasury notes, the source said. With Goldman Sachs and HSBC as bookrunners, Bermuda put the ini

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