NASSAU, BAHAMAS — The government has been able to secure US$600 million in bond financing from international capital markets to help finance its 2020/2021 budgetary needs and repay debt.
The transaction will add an additional $352 million to the debt level of the country, and falls within the $1.334 billion in approved financing for the current fiscal year.
The proceeds of the issuance will be used to finance the Government’s general 2020/2021 budgetary needs and to repay its indebtedness of US$248 million under the 2020 Bridge Facility.
According to a statement from the Ministry of Finance, The Bahamas successfully priced a US$600 million issue of 8.95 percent bonds, due 2032 in the international debt capital markets.
The MOF said the new transaction benefited from the momentum created during a successful virtual investor roadshow that The Bahamas conducted on October 5 and 6, 2020, at which time the Government met with over 45 global investors.