U.S. investors have oversubscribed a $300 million bond issue undertaken by the Bahamas government, The Nassau Guardian reports. The U.S.-dollar sovereign bond issue has been oversubscribed by $83 million.

The offering was aimed at rescheduling an existing $200 million loan, but the government decided to raise a total of $300 million considering the demand. The issue came after a series of presentations to investors in New York, Boston and Los Angeles, which was in partnership with the Royal Bank of Canada and FirstCaribbean International Bank.

Click here for the story from The Nassau Guardian.