Close this search box.

Philippines cat bond “likely to default” on typhoon Noru impact: Plenum

The Philippines World Bank facilitated catastrophe bond is deemed “likely to default” after the landfall and impacts of super typhoon Noru, according to investment fund manager Plenum Investments.

We reported yesterday that the Philippines World Bank issued IBRD CAR 123-124 catastrophe bond should be considered at-risk, after typhoon Noru (Karding as it’s locally known) underwent rapid intensification to become a major category storm before its landfall.

Typhoon Noru explosively intensified into super typhoon Noru, with its sustained winds gaining almost 100 mph over a 24 hour period and the storm went from being considered a relatively minor typhoon to one powerful enough to trigger the Philippines government’s catastrophe bond arrangement.


Skip to content