Security First secures $225mn cat bond below target rates
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Security First secures $225mn cat bond below target rates

Kit Heren
12 March 2021
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Security First has priced a $225mn cat bond well below its initial range, with the size of the issuance also growing more than 100% during the marketing process, industry sources have said.

First Coast Re 2021-1, the issuer’s largest bond yet, initially offered investors a spread of 675-750 basis points (bps), which dropped nearly 16% during marketing to settle at 600 bps.

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NewsCatastrophe bonds
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Kit Heren
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