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International

Nakama Re 2015-1 cat bond's size grows to $300 million

December 14, 2015 Reprints

Japan-based National Mutual Insurance Federation of Agricultural Cooperatives (Zenkyoren Ltd.) Nakama Re Ltd. (Series 2015-1) catastrophe bond has grown by 50% to $300 million, reports Artemis.bm.

The pricing of the bond is likely to harden and settle at the upper end of initial guidance.

The Nakama Re 2015-1 Class 1 tranche remains at $100 million, while the Class 2 tranche of notes has doubled to $200 million.

The pricing on both the tranches have moved to the top of the initial range.

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Nakama Re 2015-1 cat bond's size grows to $300 million

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