Spinnaker Capital Ltd.

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Spinnaker Capital Ltd. - At a glance:

• Issuer / SPV: Spinnaker Capital Ltd.
• Cedent / Sponsor: Swiss Re
• Placement / structuring agent/s: ?
• Risk modelling / calculation agents etc: ?
• Risks / Perils covered: U.S. hurricane
• Size: $380.2m
• Trigger type: Industry loss index
• Ratings: Moodys: Series 2007-1 - 'B1', Series 2007-2 - 'Ba2'
• Date of issue: Jun 2007

Spinnaker Capital Ltd. - Full details

This deal saw Swiss Re issue three separate series of catastrophe bond notes to secure additional U.S. hurricane cover.

$200m of Series 2007-1 notes.
$130.2m of Series 2007-2 notes.
$50m of Seroes 2007-3 notes were not rated.