Government raised $750 million on its latest bond offering, the Ministry of Finance today announced.The offering is part of the Ministry's new multi-year borrowing strategy, touted as saving “tens of millions in interest cost”, as opposed to borrowing on an annual basis in a rising interest rate market.The quantity raised was in what are termed “long” ten-year bonds, at a yield of 4.85 percent, for a spread to US Treasuries of 225 basis points, a Ministry spokesman said.The deal was announced yesterday in New York as “benchmark size” and targeted at $500 million to $750 million. It attracted international demand of almost $750 million within one hour.Added the spokesman: “The transaction represents the largest ever bond transaction and lowest ever bond spread for the government of Bermuda, underscoring Bermuda's continuing ability to lower its credit premium in the market, while funding meaningful size.”Bermuda was said to have expanded its international investor base, with over 175 investors placing orders across the United States, Europe and Bermuda focused on a combination of high quality fund managers and insurance companies.The spokesman said: “Ultimately, the Government priced the transaction at a modest 20 bps [basis points] new issue premium above Bermuda's existing public debt curve.“This release does not constitute an offer of securities for sale in the United States. Securities may not be sold in the United States absent registration or an exemption from registration.”