Monday, July 23, 2012
International law firm Milbank, Tweed, Hadley & McCloy LLP, led by Global Securities partner Robert W. Mullen, Jr., represented the Government of Bermuda (“Bermuda”) in its Rule 144A/Regulation S global offering of US$475 million 4.138% senior notes due 2023. The offering achieved the lowest fixed rate bond yield ever for Bermuda. The notes were dual listed on the Luxembourg and the Bermuda Stock Exchanges.
Commenting on the deal, Mr. Mullen said, “We have had the honor of representing Bermuda in its financing activities for many years. We were extremely pleased by the strong reception given to Bermuda’s offering.”
Bermuda is a self-governing overseas territory of the United Kingdom located in the Atlantic Ocean. Bermuda has a population of approximately 65,000, and its economy is based primarily on international business and tourism.
Milbank’s extensive expertise in capital markets and experience with sovereign issuers helped shape the offering. In addition to Mr. Mullen, the Milbank team included Global Securities associates Sam Badawi and Richard Mo.
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