Simpson Thacher Represents Initial Purchaser in US$500 Million Debt Offering by the Government of Bermuda
07.22.10
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The Firm represented HSBC Securities (USA) Inc., as initial purchaser, in connection with a Rule 144A/Regulation S offering of US$500 million of 5.603% Notes due 2020 by the Government of Bermuda.
The offering was the Bermuda government’s inaugural debt offering in the broader international capital markets.
Bermuda is a self-governing Overseas Territory of the United Kingdom and is located in the Atlantic Ocean. Bermuda has a population of approximately 65,000 people.
The Bermuda government will use the net proceeds from the debt offering to repay indebtedness, to finance capital expenditure programs and for other budgeted governmental purposes.
The Simpson Thacher team for the debt offering included Glenn M. Reiter and Rafael Berckholtz (Capital Markets), and Jonathan Cantor and Andrew Purcell (Tax).