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Munich Re places $83.7M notes using Eden Re II reinsurance sidecar

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Munich Re places $83.7M notes using Eden Re II reinsurance sidecar

Munich Re sponsored and placed a tranche of Series 2018-1 Class A notes worth around $83.7 million from its Eden Re II Ltd. reinsurance sidecar, Artemis.bm reported.

Recently, Munich Re redeemed two classes of notes from its $290 million Eden Re II Series 2015-1 reinsurance sidecar prematurely, along with a $75.6 million class A tranche of the Eden Re II Series 2016-1 reinsurance sidecar, to restructure the sidecars, according to the report.

The Series 2018 notes are due March 22, 2022, acting on behalf of an Eden Re II Segregated Account 2018-1, Artemis.bm reported.

The notes were listed on the Bermuda Stock Exchange, according to the report.