Government deregulation, particularly the easing of term limits, was critical to the success of last week’s Bermuda Government bond sale, Finance Minister Bob Richard said at a noon press conference today.Bermuda’s US dollar bond issue will save tax payers between $20 and $40 million over the 10 year life of the bonds thanks to the positive reception it received from international investors, which enabled the Government to offer lower interest rates to purchasers.The bond issue raised $750 million which will cover the projected Government deficit for the next three years.A visibly pleased Mr Richards said it was the largest bond sale, and with the lowest ‘spread’, in the island’s history. It was three times over subscribed with one investor looking for $250 million of the securities.He said the bond sale came on the heels of a transatlantic four-day road show where the Bermuda team made 21 investor ‘pitches’ as well as conference calls including one made en route to the airport.Potential investors were interested in Government’s plans to move out of a budget deficit position, the Finance Minister explained. Deregulation of the island’s business environment resonated with them. “We have a credible plan, and we had a good reaction from investors,” said Mr Richards.