Ltd. were listed on the Bermuda Stock Exchange (BSX) as of December 31, the BSX said yesterday.

The transaction was arranged by Bankers Trust Australia Ltd. with BT Project Finance Pty Ltd., a subsidiary company acting as security trustee. The BSX said the listing was sponsored by Voyager Financial Services Ltd. "under the BSX Listing Regulations for International Issuers, Debt Securities and the provisions for restricted marketing.'' Voyager managing director Paul Lemmon stated, "We are very pleased that Bankers Trust Australia has discovered the opportunity of listing debt securities on the BSX for its client.

"Bankers Trust Australia's significance is a tremendous gain for Bermuda and the BSX, and, as a BSX listing sponsor, we are confident that further debt listings from other world class organisations will be attracted to the Exchange.'' The Series 2 Notes were issued by SSV, a special purpose company incorporated under the laws of the Australian Capital Territory, and are limited recourse zero coupon securities backed by a loan to Ramsay Health Care Australia Pty Ltd.

Each Tranche of the Series 2 Notes has a face value of A$13,050,000 and a separate maturity date. The aggregate amount raised under the programme is some A$94 million.

Senior vice president at Bankers Trust Australia, Craig Stokeld, said, "We were very pleased to close the transaction and fully place it before year end.

"Through the securitisation, we have been able to successfully manage our exposure to the underlying corporate risk and provide our client with the flexibility to raise further funds in the future with regard to the programme.'' BSX listing manager, James McKirdy, said, "The BSX is delighted to list the 46 separate Tranches of SSV No. 1 Pty Ltd.'s Series 2 Notes. The recent revision of the Exchange's listing regulations for international issuers of debt securities has attracted a good deal of attention and helped to secure this listing. We are pleased Bankers Trust Australia Ltd. chose the BSX for their client's listing.'' BUSINESS BUC