The Government of Bermuda is seeking a 40mln dlr, seven year revolving credit, which will be the only
credit outstanding in its own name, N.M. Rothschild and Sons
Ltd said as arranger and agent.
    The credit will pay a margin of 20 basis points over U.S.
Dollar London Interbank Offered Rates (LIBOR) and will
incorporate a tender panel for U.S. Dlr advances.
    There is a 10 basis point annual facility fee in years one
to four, rising to 12-1/2 points thereafter.  A 7-1/2 basis
point participation fee is payable on the transaction, which
started syndication this week.
 Reuter
