Jamaica’s first catastrophe bond, the IBRD CAR 130 transaction, has now been successfully priced and the Caribbean island nation has secured the upsized target of $185 million of coverage, with pricing closer to the upper-end of guidance.
Dedicated insurance-linked securities (ILS) investment funds took the lions share of the cat bond notes on offer, absorbing 66% of the arrangement, the World Bank reported.
As we reported recently here, the first catastrophe bond for Jamaica looked set to increase a little in size, from the original offering of $175 million of notes.
FULL ORIGINAL PUBLICATION HERE
