Natixis successfully arranged and placed €150 million catastrophe bonds for ERDF

Natixis successfully closed the arrangement and placement, as sole arranger and joint bookrunner, of a French windstorm risk transfer transaction for ERDF (Pylon II Ltd.)

Article also available in : English EN | français FR

This deal is a key step of Natixis’ product range development in the risk transfer space (catastrophe bonds) for its client base of insurers and corporates.

This innovative transaction provides ERDF’s aerial distribution network with protection against the risk of a large windstorm in France. 150 million euros of risk are transferred to capital markets via two classes of notes rated B+ (65M€) and B- (85M€).

The deal covers five consecutive years and matures in May 2016. Issuance spread was set at 550 basis points over Euribor for the B+ rated notes and 900 basis points for the B- rated notes.

Despite a challenging market environment, Natixis successfully placed the transaction via its sales force. Since 2003, Natixis strengthens, as arranger or joint bookrunner, its leadership in Eurodenominated catastrophe bond issuances.

Next Finance , August 2011

Article also available in : English EN | français FR

Read also

October 2009

Product « Catastrophe bonds » or CAT bonds

Insurance companies issue this type of bonds to cover the risks associated with "disastrous" events such as earthquakes, typhoons, storms and hurricanes...

Share
Send by email Email
Viadeo Viadeo

© Next Finance 2006 - 2019 - All rights reserved