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Report: Calif. earthquake cat bond pricing fixed

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Report: Calif. earthquake cat bond pricing fixed

California Earthquake Authority's latest catastrophe bond, Ursa Re Ltd. (Series 2017-2), has not increased in size and its pricing guidance has been fixed, Artemis reported.

The price guidance for the class C and class D layers is fixed at 4% and 5.25%, respectively. Earlier, the class C layer's price guidance was in the range of 3.5% to 4.25%, while the class D layer's guidance was 5% to 5.75%. The transaction will offer two tranches of notes, each sized at $200 million.