Sequoia Capital Ltd.
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Sequoia Capital Ltd. - At a glance:
- Issuer / SPV: Sequoia Capital Ltd.
- Cedent / Sponsor: Swiss Re
- Placement / structuring agent/s: Swiss Re Capital Markets acted as sole bookrunner
- Risk modelling / calculation agents etc: ?
- Risks / Perils covered: California earthquake risks
- Size: $23m
- Trigger type: Parametric index
- Ratings: S&P: 'BB+'
- Date of issue: Aug 2003
Sequoia Capital Ltd. - Full details
Sequoia Capital Ltd., a Caymans Islands domiciled SPV, provides Swiss Re with cover for certain California earthquakes.
The transaction is triggered on a parametric index to calculate whether an earthquake event qualifies. The index has the usual attachment and exhaustion points to determine how much of the principal has been lost.
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