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Government debt

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Fitch gives Govt bond AA- rating

The $50 million Bermuda Government Bond has been given a AA- rating by ratings agency Fitch, it was announced yesterday. Fitch said the rating was “in line with Bermuda’s long-term local currency issuer default rating (IDR) of AA- with a negative out...
Dec 19, 2013
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Richards: $50m Govt bond fully subscribed

A massive $50 million Government bond has sold out, Minister of Finance Bob Richards said today. Mr Richards added that more than two-thirds of the bond orders — aimed at raising cash to reduce the Island’s debt — went to smaller investors and 90 per...
Dec 19, 2013
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Govt bonds listed with 4.75% yield

The Government of Bermuda’s senior notes will yield 4.75 percent, indicating a healthy demand for the bond. When Finance Minister Bob Richards announced the bond offering at the beginning of August, he said he could not prejudge what the interest rat...
Dec 16, 2013
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Govt to stage public meetings on SAGE

Premier Craig Cannonier has called for open public dialogue on recommendations in the recently released SAGE Commission report as Government considers its next steps. Mr Cannonier said this afternoon that Government will be reaching out to the Island...
Dec 06, 2013
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Richards: Govt bond issue is aimed at small investors

A $50 million Government bond issue is aimed at small Bermuda investors, Finance Minister Bob Richards told a meeting last night. Mr Richards said the $10,000 minimum investment in the issue was geared to personal purchases — not institutional buyers...
Dec 04, 2013
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Govt launches $50m bond issue

A $50 million bond issue was today launched by the Bermuda Government. The senior notes — which will yield at least 4.75 percent and are denominated in Bermuda dollars — are targeted at Island investors and Government said smaller, individual subscri...
Dec 02, 2013
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Public invited to Govt bond information sessions next week

Investors interested in an expected near five percent annual return offered by a new Bermuda Government bond issuance can learn more at two public information sessions next week. The events will take place next Tuesday, December 3, and Wednesday, Dec...
Nov 27, 2013
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"Economy continues to struggle, six-month figures show"

Just-released economic data shows that difficult conditions are persisting through 2013, Minister of Finance Bob Richards said in a public release of information about Bermuda’s financial state.The data showed that Government revenues tracked higher ...
Nov 15, 2013
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SAGE report presented to Govt

The much anticipated SAGE Commission final report has been presented to Government. Acting Minister of Finance, Michael Dunkley accepted the 150-page document yesterday marking the end of the six-month review. The full appendix runs to more than 10,0...
Nov 01, 2013
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"Young people and the SAGE Commission"

Member, Privatisation & Outsourcing Committee, SAGE Commission The young people I teach at Bermuda College are largely unaware of the existence of a Spending and Government Efficiency (SAGE) Commission. They are, however, aware of the debt problem:...
Sep 18, 2013
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"Civil servant in hot water over SAGE entry "

A civil servant’s submission to the SAGE Commission which won him more than $12,000 has landed him in hot water with some of his colleagues and sparked controversy about the process surrounding the competition. Magnus Henagulph’s submission was prais...
Sep 07, 2013
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"Civil servant lifts lid on Government waste "

A civil servant has been rewarded by the SAGE Commission for lifting the lid on glaring inefficiencies at the heart of Government. Department of Communication and Information employee Magnus Henagulph was awarded $12,500 yesterday for his ideas for h...
Sep 06, 2013
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