Munich Re places first tranche of $1.5bn life cat bond programme
Munich Re has announced the placement of the first $100m tranche of a $1.5bn extreme mortality bond through a Cayman’s based vehicle called Nathan.
The first five-year series of $100m of principal-at-risk variable rate notes issued by Nathan Ltd was priced at LIBOR plus 1.35%.
The firm said the programme is designed to protect Munich Re against
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