Insurer's 15m offer 'heavily oversubscribed'

Thu, Oct 14th 2010, 11:00 PM

By NEIL HARTNELL

Tribune Business Editor

Bahamas First Holdings' $15 million bond issue has closed several days early after being "heavily oversubscribed", the company's president and chief executive yesterday describing this as showing a "significant degree of confidence" in the general insurer's future prospects.

Confirming that the general insurance holding company had been forced to halt acceptance of funds several days before today's official close, Patrick Ward indicated that the $15 million issue's successful completion was likely to be the final key step in international insurance credit rating agency, A. M. Best, removing its 'review with nega ...

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