The latest catastrophe bond which provides protection ultimately to a corporate sponsor, Pylon II Capital Ltd., closed yesterday at a target size of €150m. The transaction provides Electricite De France (better known as EDF), one of the largest energy companies in the world and a leader in nuclear power generation, with five years of reinsurance […]
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A rarely seen occurrence in the catastrophe bond market, a cat bond transaction designed to protect a corporate sponsor, has begun marketing today with the launch of Pylon II Capital Ltd. The transaction ultimately covers Electricite De France (better known as EDF), one of the largest energy companies in the world and a leader in […]
The Pylon II Capital Ltd. catastrophe bond that was issued in 2011 on behalf of ultimate sponsor energy firm Électricité De France (EDF), is to be redeemed early as at the latest reset the trigger levels had decreased.
The recently completed Pylon II Capital Ltd. catastrophe bond, which provides electricity and energy firm EDF with reinsurance protection against French windstorms for five years, is one of the more interesting recent deals, particularly due to the involvement of French bank Natixis in many of the roles required to issue a cat bond.
Standard & Poor’s have today, as promised, assigned the official credit ratings to the two tranches of French windstorm catastrophe bond notes issued recently by Pylon II Capital Ltd. The €150m transaction provides Electricite De France (better known as EDF), a leading energy and electricity generation firm, with five years of reinsurance protection against windstorms […]
Standard & Poor’s have published an announcement stating that they have suspended the rating on the recent Queen Street III Capital Ltd. catastrophe bond which provides Munich Re with protection amounting to $150m of their European windstorm risks. The reason for the suspension is the same as the reason that another recent cat bond, Pylon […]
Risk modeller EQECAT, Inc. have issued a press release regarding their involvement in the recently completed Pylon II Capital Ltd. catastrophe bond which transferred some of EDF’s European windstorm risks in France to the capital markets. The press release provides a little extra detail to our previous coverage on this transaction.
Munich Re’s latest catastrophe bond, issued by their newly domiciled in Ireland SPV Queen Street III Capital Ltd., began marketing as a $50m issuance when we wrote about it on the 15th July. Thanks to significant investor demand for a European windstorm cat bond, which offered investors an opportunity for portfolio diversification, the deal finally […]
Risks to the electric grid due to severe weather, natural catastrophes and climate change can cause losses in the billions of dollars, and while threats make our energy future more uncertain there is a role for risk transfer and potentially the capital markets in helping to stave off economic disruption.
With extreme weather & climate related losses rising fast, as exposures grow, more violent extremes occur and industrialisation of emerging economies continues, investors and regulators are set to place increasing importance on corporate climate risks.