Allen & Overy represents the initial purchasers in USD600 million sovereign bond offering by the government of The Bahamas
19 October 2020
Allen & Overy represented Credit Suisse and RBC Capital Markets as initial purchasers of the Government of The Bahamas’ USD600 million of 8.950% Notes due 2032. The offering closed on October 15, 2020 and was made under Rule 144A and Regulation S under the Securities Act. The Government will use the proceeds of the offering to finance general development in The Bahamas and to repay a bridge loan arranged by Credit Suisse in August 2020.
Allen & Overy has significant experience with financing transactions across the Americas, and is a global leader in sovereign debt offerings. This transaction marks Allen & Overy’s second recent Caribbean sovereign bond deal, following its representation of the Government of Trinidad and Tobago on its USD500 million notes offering in June 2020.
The Allen & Overy team was led by Capital Markets Partner Justin Cooke, with key support from associates Eliza Murray and Gregory Klein. The issuance of the bonds is the third financing that Allen & Overy has closed in The Bahamas this year. The first two financings were led by Projects Partner Dorina Yessios.