The Bermuda Stock Exchange (BSX) has approved the listing of the Bermuda Government's US$500 million, ten-year bond issue.

The 5.6 percent senior notes have mature on July 20, 2020. The BSX said yesterday that the listing was effective from July 20, 2010.

The listing provides a secondary market for the bonds, which were six times oversubscribed when they were bought by institutional investors from all over the world last week.

The notes will also be listed on the Luxembourg Stock Exchange's Euro MTF Market.

Greg Wojciechowski, chief Greg Wojciechowski, chief executive officer of the BSX, said "the listing of a public debt instrument of this size on the BSX is a significant step in the maturation of the domestic capital market".

'Following earlier success in the placing, listing and subsequent trading of several transactions in the domestic capital market, we look forward to providing the Exchange's full after market support for the notes if trading conditions require such," Mr. Wojciechowski added.

"The noted success of earlier domestic capital market transactions clearly illustrate that there is local investment demand for properly structured and regulated securities."

Last year the BSX listed the $200 million of Government-guaranteed preference shares issued by Butterfield Bank, which yield eight percent. The secondary market for those shares has proved active.

Bermuda International Securities Ltd., a wholly-owned subsidiary of HSBC Bank Bermuda Ltd., sponsored the BSX listing of the Government notes.

"It is the Exchange's hope that entities, whether in the public or private sectors, will give full consideration to the domestic capital market when they are required to undertake capital raising," Mr. Wojciechowski added.