Mystic Re bond reaches 20% above initial target at $150mn
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Mystic Re bond reaches 20% above initial target at $150mn

Liberty Mutual logo Boston 2022 new.jpg

Liberty Mutual has finalised its latest Mystic Re deal at a size of $150mn, higher than the original target by 20%, with the pricing at the top end of guidance at 9.25%.

The price gives a multiple of 4.9x the sensitivity case expected loss at 1.9%, which is more than twice as high as the 2x multiple achieved on a similar but slightly riskier deal placed in June 2021.

Liberty

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