Tailwind Re Ltd. Series 2017-1

The Tailwind Re Ltd. (Series 2017-1) catastrophe bond transaction sponsored by Bermudian reinsurance group Validus Holdings is set to be the latest to achieve a significant decrease in its interest spread, as the marketed coupon has now dropped to the bottom of already reduced guidance thanks to strong investor demand.

The first full catastrophe bond issuance sponsored by Bermudian reinsurance group Validus Holdings is set to achieve efficient execution, as the marketed size of the deal has now been increased by 23% to $400 million, while the coupon price guidance has been reduced, falling to below the originally marketed ranges.

Bermudian reinsurance group Validus Holdings is sponsoring its first full catastrophe bond issuance with the launch to the ILS market of a $325 million Tailwind Re Ltd. (Series 2017-1) transaction, as it seeks to add more capital markets backed retrocession to its coverage.