Global reinsurance company Munich Re has now listed the second privately placed $284.422 million tranche of Series 2016-1 Class B Section 4(a)(2) notes from its recent Eden Re II Ltd. collateralised reinsurance sidecar issue on the Bermuda Stock Exchange (BSX).
For its recent Eden Re II Series 2016-1 reinsurance sidecar renewal, Munich Re offered a $75.578 million Rule 144a tranche of collateralized reinsurance sidecar notes to investors in a broadly syndicated offering, while simultaneously offering to existing investors in its sidecars a second $284.422 million Class B tranche of Section 4(a)(2) notes.
This privately placed tranche of Eden Re II Ltd. Series 2016-1 Participating Class B Notes, due 23rd April 2019, were listed on the BSX yesterday, classified under Section V as Insurance Related Securities.
For reinsurance firm Munich Re, the Eden Re sidecars are a core part of its strategy to partner with capital markets and ILS investors both to share risk with them and as a source of efficient retrocession capacity.
For more details on Munich Re’s Eden Re II Ltd. 2016-1 collateralised reinsurance sidecar renewal read our previous articles:
For more details on reinsurance sidecar investments and transactions view our list of collateralized reinsurance sidecars.