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International

World Bank launches $1-billion cat bond

January 23, 2018 Reprints

The World Bank Group has launched a $1-billion catastrophe bond to provide earthquake cover to the member nations of the Pacific Alliance trade bloc in Latin America, Artemis.bm reports. The cat bond includes five series of quake-linked capital-at-risk notes issued through the World Bank's global debt facility International Bank for Reconstruction and Development. One tranche of notes will cover each of Chile, Colombia and Peru, while two tranches will cover Mexico. The issuance is preliminarily sized at $225 million for Mexico, $175 million for Peru and $300 million for Chile and Colombia, respectively.

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World Bank launches $1-billion cat bond

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