Residential Reinsurance 2015 Ltd. (Series 2015-2)

U.S. military mutual insurer USAA’s Residential Reinsurance 2015 Ltd. (Series 2015-2) catastrophe bond transaction has now been priced at the top end of the tightened coupon range, while still remaining at the upsized $125 million.

Further to yesterdays update to U.S. military mutual insurer USAA’s Residential Reinsurance 2015 Ltd. (Series 2015-2) catastrophe bond deal, which saw the transaction price guidance narrow, it’s now emerged that the deal has upsized to $125 million.

The price or coupon guidance for U.S. military mutual insurer USAA’s Residential Reinsurance 2015 Ltd. (Series 2015-2) catastrophe bond has tightened at the low end of the marketed range, as investors once again show their support for this prolific sponsor.

U.S. military mutual insurer USAA is back in the catastrophe bond market again looking to expand its use of capital markets backed reinsurance capacity, with a $100 million, single tranche issuance Residential Reinsurance 2015 Ltd. (Series 2015-2).