A $60 million Resilience Re Ltd. (series 1812A) zero-coupon transaction has been issued through Willis Towers Watson Plc's private catastrophe bond issuance platform, Artemis reported.
The name of the sponsor is not yet known, but the deal is likely providing the sponsor with fully collateralized property catastrophe reinsurance coverage. The cat bond was reportedly issued in February.
The single $60 million tranche of zero coupon notes are due to mature in October 2019.
Willis Towers Watson Securities will have been the lead structuring agent and book runner for the private cat bond, Artemis reported.
