DREWCAT Capital Ltd.

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DREWCAT Capital Ltd. – At a glance:

Issuer: DREWCAT Capital Ltd.
Cedent / sponsor: Dominion Resources
Placement / structuring agent/s: ?
Risk modelling / calculation agents etc: EQECAT
Risks / perils covered: U.S. hurricane
Size: $50m
Trigger type: Parametric index
Ratings: ?
Date of issue: Jun 2006

DREWCAT Capital Ltd. – Full details:

The first catastrophe bond of the year to be issued by a non-insurance company. DREWCAT was issued by Dominion Resources a U.S. energy and gas company. The notes are structured in a single tranche and designed to protect Dominion against Gulf of Mexico. hurricane risks threatening it’s platforms and installations.

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