The Artemis Catastrophe Bond and Insurance-linked Securities Deal Directory aims to provide a one-stop resource for information on every cat bond and ILS transaction we hold information on. The content of this Deal Directory is provided as is and there will be some omissions. Help us to keep these cat bond and ILS transaction summaries up to date by contacting us if you see an error or omission that you can correct.
Aiolos Ltd. - At a glance:
- Issuer / SPV: Aiolos Ltd.
- Cedent / Sponsor: Munich Re
- Placement / structuring agent/s: BNP Paribas were lead manager
- Risk modelling / calculation agents etc: RMS
- Risks / Perils covered: European windstorm
- Size: $128.7m
- Trigger type: Parametric index
- Ratings: S&P: 'BB+'
- Date of issue: Nov 2005
Aiolos Ltd. - Full details
Munich Re announced that it privately placed 110 million Euro ($129 million) of risk-linked securities to provide protection against severe Western European windstorms.
BNP Paribas acted as lead manager on the deal and Risk Management Solutions modeled the underlying risk. Munich American Capital Markets, the capital markets unit of Munich Re, worked with BNP Paribas in structuring and managing the transaction.
The bonds have a coupon of 475 basis points over three-month EURIBOR.
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