FEMA seeks $325mn cover with FloodSmart Re cat bond
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FEMA seeks $325mn cover with FloodSmart Re cat bond

Martha Muir
31 January 2022
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Biden FEMA briefing on the upcoming hurricane season.jpg

The US Federal Emergency Management Agency (FEMA) is seeking to raise $325mn from its latest FloodSmart Re catastrophe bond across three tranches of notes.

The $200mn of Class A notes are offered with a coupon of 1100 to 1150 basis points (bps), giving a midpoint multiple of 2.6x

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Topics

News Catastrophe bonds Weather
MM
Martha Muir
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