Bermuda is a self-governing British Overseas Territory comprising the Bermuda, or Somers, Islands, an archipelago of some 150 islands in the Atlantic Ocean about 570 nautical miles south-east of North Carolina. Bermuda covers an area of approximately 21 square miles and has a population of approximately 64,237 as of May 2010. Per capita nominal GDP in 2010 was US$89,739.00, one of the highest in the world.

As at July 2012 the Government currently holds long-term foreign currency credit ratings of 'Aa2' from Moody's Investor Services, a 'AA-'  from Standard and Poor's, and 'AA' from Fitch Inc.

The Notes have NOT been registered under the U.S. Securities Act of 1933, as amended, or the securities laws of any other jurisdiction. The Notes will be offered only to qualified institutional buyers in the U.S under Rule 144A and to persons outside the U.S under Regulation S of the Securities Act.

The Notes are also listed on the Luxembourg Stock Exchange.