Guernsey Government Completes £330 Million Bond Issue

Guernsey's Government has completed the £330 million bond issue for its inaugural States of Guernsey Bond.

The issue was over-subscribed, showing a strong level of investor interest, which enabled the Guernsey Government to secure a fixed rate of interest of 3.375 per cent per year, with a final maturity of December 2046.

This represents the lowest ever coupon for a long-term fixed rate sterling bond from any issuer without a UK Government guarantee.

The States of Guernsey had been working with external partners EY who acted as independent financial advisers; Clifford Chance acting as international counsel, and Carey Olsen as Guernsey counsel who worked alongside lawyers from the Law Officers of the Crown in preparing for the debut bond issuance.