Latin American cat bond sale 40% over target

The World Bank Group-supported earthquake catastrophe bonds for the Pacific Alliance trade bloc in Latin America is expected to settle at an overall transaction size of nearly $1.4 billion, Artemis.bm reports. The Alliance was initially hoping to raise $1 billion in the bond sale, but strong investor demand resulted in a larger sale. The Pacific Alliance catastrophe bonds use parametric triggers and provide protection on a per-occurrence basis.

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