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Twelve Capital completes $23.6M private cat bond issuance

Zurich-based investment manager Twelve Capital completed the issuance of Dodeka XIII, a private catastrophe bond worth about $23.6 million, Artemis reported.

The issuance was made through the Artex SAC Ltd. ILS Note Program II vehicle, the report said. The insurance-linked notes are due May 9, 2019.

The notes are listed on the Bermuda Stock Exchange and will provide protection against U.S. natural catastrophe risks. Artemis did not identify the cedant.