The Bermuda Stock Exchange is looking to encourage debt issues such as bonds to list on its markets, according to Greg Wojciechowski, the BSX's president and chief executive officer.

And he said that recent media coverage about a possible Government bond issue for capital projects such as the hospital or the Causeway had highlighted the issue for the exchange.

This plus the perception there was surplus capital around from the sale of Bank of Bermuda had added to the interest in both Government and privately issued bonds.

"It is important to have regulation to protect your investment," he said, adding that while Government or privately placed bonds would be issued through, say, a bank, they could be listed. This meant that not only could they be traded on an open market once sold, but would also mean that the management of the bonds would fall under the BSX supervision.

Mr. Wojciechowski said that bonds previously listed on the exchange, such as the City of Hamilton one for Bulls Head, had been hugely successful and oversubscribed.

"It is a very popular way to invest, and invest in a bit of Bermuda," he said. "And it can be very satisfying to see how your money is working ? when it is to build a bridge or some kind of structure, you can see what it is your cash is building."

And he said that the BSX was very supportive of debt issuance as another way to finance projects, other than asking shareholders of a bank.

"Historically the BSX has supported very successful debt issues," said Mr. Wojciechowski. "The Corporation of Hamilton bond issue for Bulls Head car park and the Hospital Board Bond which assisted raising capital for the construction and modernisation of a surgical wing."

And he said that now was a great time for bonds to be issued following the HSBC transaction.

"Bermudians are looking for investment opportunities," he said. "And any issue that will support infrastructure or a development project might be even more attractive."

And he added that bonds were safe ways to invest with a guaranteed sum returned, with interest at the end of a fixed term.

"They are good opportunities for the smaller or new investor to take part," he said.