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The guide pricing offers similar multiples to last year’s issuance.
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The client lacked options in the conventional insurance market.
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The bond is currently trading at around 65c in the dollar on the secondary market.
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The transformer vehicle issued $209mn worth of cat bond lites in 2023.
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Pricing is now targeted for 30 January, and closing on 6 February.
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The early redemption of the Credit Suisse bond comes after the bank was acquired by its rival UBS last year.
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Earlier today, the insurer updated the spread on the cat bond which has settled at 5.75%, and updated the target price to $300mn-$350mn.
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The bond will provide protection from named storms in Florida for three years.
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The Swiss Re Total Return Index climbed month-over-month throughout the year, to more than regain ground lost after Hurricane Ian in September 2022.
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Nearly 90% of the fund’s allocation is in cat bonds, with a small allocation to other ILS securities and US Treasury Bills.
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The firm will deploy newly developed, proprietary cat bond analysis platform Hubble.