The Atlantic-islands state plans to sell $200 million of bonds, partly to pay existing debt, according to a faxed statement from Citigroup Inc., which is managing the sale. The bonds will be sold Thursday or earlier, the statement from Citigroup’s London office said. <\/P><\/p>\n
The Bahamas is taking advantage of “historically low interest rates” helping to refinance a $125 million short-term loan, which will bring “significant savings,” Finance Minister James Smith said in the statement. <\/P><\/p>\n
The yield on 10-year U.S. Treasury bonds hit a 45-year low of 3.07 percent on June 16. <\/P><\/p>\n
The Bahamas has a foreign-debt rating of A3 from Moody’s Investors Service, an investment grade rating six levels from the top grade and level with that of South Korea and China. <\/P><\/p>\n
The government sold $25 million of 10-year bonds in 1997. The Citigroup statement didn’t specify the maturity of the bonds planned this week. <\/P><\/p>\n
The Bahamas, which is comprised of islands east of Florida and Cuba with 300,000 inhabitants, earns most of its revenue from tourism. <\/P><\/p>\n
Bloomberg<\/B><\/p>\n","protected":false},"excerpt":{"rendered":"
The Bahamas is tapping the international bond market this week for the first time since 1997 after benchmark Treasury rates fell to the lowest level in almost half a century.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"facebook_10223285771444175_51037792744":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[12],"tags":[],"class_list":["post-243771","post","type-post","status-publish","format-standard","hentry","category-headlines"],"_links":{"self":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/posts\/243771","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/comments?post=243771"}],"version-history":[{"count":0,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/posts\/243771\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/media?parent=243771"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/categories?post=243771"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/tags?post=243771"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}