The Firm represented Barclays Capital Inc., J.P. Morgan Securities LLC and CIBC World Markets Corp., as initial purchasers, in connection with a Rule 144A/Regulation S offering of US$750 million of 4.854% Notes due 2024 by the Government of Bermuda. This was the single largest sovereign bond offering by the Government of Bermuda to date.
Bermuda is a self-governing Overseas Territory of the United Kingdom and is located in the Atlantic Ocean.
The Bermuda government will use the net proceeds from the debt offering to repay indebtedness and for other budgeted governmental purposes.
The Simpson Thacher team for the transaction included Jaime Mercado and William A. Langer (Capital Markets), Jonathan Cantor and Devin Heckman (Tax), and Elizabeth Romefelt (Summer Associate).
