Artemis has learned that the Los Angeles Department of Water and Power (LADWP), the largest municipal utility operating in the United States, has now priced its latest catastrophe bond, securing $100 million of wildfire protection from its 123 Lights Re Ltd. (Series 2025-1) deal, with the notes priced at the bottom end of initial guidance.
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The Los Angeles Department of Water and Power (LADWP), the largest municipal utility operating in the United States, has scaled back its latest catastrophe bond issuance, with the company now targeting $100 million of wildfire protection from its 123 Lights Re Ltd. (Series 2025-1) deal, down from earlier guidance of up to $150 million, Artemis […]
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The Los Angeles Department of Water and Power (LADWP), the largest municipal utility operating in the United States, has returned to the catastrophe bond market for its third time, seeking up to $150 million of wildfire protection from a 123 Lights Re Ltd. (Series 2025-1) issuance, Artemis has learned.
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