We’ve uncovered some further details on the Kizuna Re Ltd. privately placed catastrophe bond transaction which we wrote about earlier today. The $160m cat bond provides cover to sponsor Tokio Marine for some of their Japanese typhoon windstorm risks.
We’ve now discovered that the transaction has a three year term, with maturity expected on the 8th September 2014. We’ve also been told that the floating rate notes issued through this private cat bond deal will pay investors a quarterly interest amount of U.S. Libor rate + 5.2%.
The deal has now been added to our catastrophe bond Deal Directory.