Progressive settles pricing and refines tranche target sizes on Bonanza Re
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Progressive settles pricing and refines tranche target sizes on Bonanza Re

Liz Bury
05 January 2023
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Progressive has settled pricing on the Class A and Class B notes for its Bonanza Re deal, with the former moving to the top end of guidance.

The Class A notes’ target size has adjusted to $65mn-$75mn from the initial $75mn, while the guide price moved to 825 basis points (bps), the top end of the earlier guided range 750-825 bps.

The

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