HAMILTON, Bermuda and PRINCETON, N.J., Sept. 1, 2020 – Miami International Holdings, Inc. (MIH), the majority stockholder of the Bermuda Stock Exchange (BSX) and parent holding company of the MIAX Exchange Group^™, today announced that the BSX has listed another $1.2 billion of NCL Corporation Ltd. (NCL) exchangeable senior and senior secured notes. This new listing is in addition to three NCL Debt listings of approximately $1.94 billion announced August 13^th.

 

 

 

The new listings are as follows:

 

 

 

·         US$450,000,000, 5.375% Exchangeable Senior Notes due August 1, 2025

 

·         US$750,000,000, 10.25% Senior Secured Notes due February 1, 2026

 

 

 

BSX President and CEO Greg Wojciechowski commented, “The team at the BSX is delighted to continue our support for NCL with an additional $1.2 billion in debt listings on the BSX. The BSX continues to gain traction and attract premium securities in the international debt market which further underpins BSX’s position as a recognized venue for international listings from around the world.”

 

 

 

The BSX has seen an increased momentum from the global capital markets for an alternative, internationally recognized exchange platform for the listing of international and domestic debt instruments.

 

 

 

Thomas P. Gallagher, BSX Chairman and Chairman and Chief Executive Officer of MIH, stated, “We are very pleased that NCL again decided to choose the BSX for such an important listing of NCL’s debt securities. NCL’s choice recognizes the BSX’s global reach, reliability, technology and expertise in the listing of complex debt financing instruments.”

 

 

 

As of Q2 2020, the BSX had over 1,000 listed securities, including investment funds, debt and insurance related securities, as well as small to medium enterprise companies. The BSX is also the world’s leading exchange for the listing of Insurance Linked Securities (ILS) with approximately 500 listed issuers and $40 billion market capital outstanding representing over 90% market share of global ILS.

 

 

 

Walkers (Bermuda) Limited acted as Bermuda counsel for NCL and Walkers Listing Services (Bermuda) Limited was listing sponsor for the BSX. Walkers' Partner, Natalie Neto said, “We are delighted to have been able to assist NCL again with respect to these listings, that further demonstrate the BSX as a venue of choice with respect to listings of global debt securities"

 

 

 

Through its ownership interest in BSX, the MIAX Exchange Group will provide additional support to the evolving global (re)insurance risk market through innovative products on a global scale with a view toward the futures market.

 

 

 

For further information regarding the BSX, please visit www.bsx.com.

 

 

 

Corporate Communications Contact:         MIH

 

Natalie Kay, Karma Agency

 

nkay@karmaagency.com

 

 

 

BSX

 

Jacintha Hughes

 

jhughes@bsx.com

 

 

 

About the BSX

 

 

 

Established in 1971 the Bermuda Stock Exchange (BSX) is now the leading electronic offshore securities market. The BSX specializes in listing and trading of capital market instruments such as equities, debt issues, funds, hedge funds, derivative warrants and insurance linked securities (ILS). The BSX, recognized by the United States Securities and Exchange Commission as a Designated Offshore Securities Market, is a member of the World Federation of Exchanges, an associate member of IOSCO and is located in an O.E.C.D. member nation. The BSX has Approved Stock Exchange status under Australia's Foreign Investment Fund (FIF) taxation rules; Designated Investment Exchange status by the UK's Financial Services Authority; Recognized Stock Exchange by the UK HM Revenue and Customs; Designated Exchange status under Canada's Income Tax Act and is a member of America's Central Securities Depository Association.

 

 

 

About MIH and the MIAX Exchange Group

 

Miami International Holdings, Inc. (MIH) is the parent holding company of Miami International Securities Exchange, LLC (MIAX^®), MIAX PEARL, LLC (MIAX PEARL^®) and MIAX Emerald, LLC (MIAX Emerald™ and together with MIAX and MIAX PEARL, the MIAX Exchange Group™), three options trading exchanges. MIH also owns a controlling interest in the Bermuda Stock Exchange.

 

 

 

MIAX, MIAX PEARL and MIAX Emerald options exchanges leverage the MIAX Exchange Group’s industry-leading technology and infrastructure to provide their member firms with traditional pricing and pro rata allocation (MIAX), maker-taker pricing and price-time allocation (MIAX PEARL) market structures, and a hybrid market structure with maker-taker pricing and pro rata allocation (MIAX Emerald).

 

 

 

MIAX Options serves as the exclusive exchange venue for cash-settled options on the SPIKES^® Volatility Index (Ticker: SPIKE), a measure of the expected 30-day volatility in the SPDR^® S&P 500^® ETF (SPY).

 

 

 

The MIAX Exchange Group’s executive offices and National Operations Center are located in Princeton, NJ, with additional offices located in Miami, FL.

 

 

 

To learn more about MIH and the MIAX Exchange Group visit www.MIAXOptions.com.

 

 

 

 

 

Disclaimer and Cautionary Note Regarding Forward-Looking Statements

 

 

 

The press release shall not constitute an offer to sell or a solicitation of an offer to purchase any securities of Miami International Holdings, Inc. (together with its subsidiaries, the Company) or the Bermuda Stock Exchange (BSX), and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such offer; solicitation or sale would be unlawful. This press release may contain forward-looking statements, including forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements. 

 

 

 

All third-party trademarks (including logos and icons) referenced by the Company or the BSX remain the property of their respective owners. Unless specifically identified as such, the Company’s or the BSX’s use of third-party trademarks does not indicate any relationship, sponsorship, or endorsement between the owners of these trademarks and the Company or the BSX. Any references by the Company or the BSXto third-party trademarks is to identify the corresponding third-party goods and/or services and shall be considered nominative fair use under the trademark law.