Nakama Re 2015-1 cat bond's size grows to $300 million
Posted On: Dec. 14, 2015 12:00 AM CSTJapan-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.