13 January 2020Alternative Risk Transfer

‘Landmark' parametric earthquake catastrophe bond comes to market

A deal to bring a “landmark” parametric catastrophe bond, designed to protect against mortgage default caused by earthquakes and issued by issued by Sierra Ltd on behalf of Bayview's MSR Opportunity Fund (Bayview), has closed bringing $225 million Series 2020-1 principal at-risk variable rate notes to market.

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‘Landmark' parametric earthquake catastrophe bond comes to market

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