Everglades Re II Ltd Series 2018-1

Florida’s Citizens Property Insurance Corporation’s latest catastrophe bond, the Everglades Re II Ltd. (Series 2018-1) transaction, has upsized before pricing to $250 million, while the coupon has now been fixed at the low-end of initial guidance.

The latest catastrophe bond to be sponsored by Florida’s Citizens Property Insurance Corp. looks set to achieve pricing at or below the middle of initial guidance, as indications suggest that the $200 million Everglades Re II Ltd. (Series 2018-1) will tighten at the lower-end of the launch pricing.

Florida’s Citizens Property Insurance Corp. returns to the capital markets for additional reinsurance with another catastrophe bond in the Everglades Re series of transactions, Everglades Re II Ltd. (Series 2018-1).