Having once been considered at-risk, due to perceived potential exposure to sponsor Credit Suisse’s challenges related to Archegos and Greensill Capital, we’ve learned that the Operational Re III Ltd. operational risk catastrophe bond was matured, redeemed early and investors repaid in full, while going forwards the latest issuance has no exposure to these events.
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According to Bloomberg news, the Operational Re III Ltd. operational risk catastrophe bond is viewed by investors and holders as potentially at-risk on the challenges faced by the beneficiary of the coverage, investment bank Credit Suisse, due to the Archegos and Greensill Capital issues.
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A new $461.22 million operational risk catastrophe bond transaction has successfully been issued, with the ultimate beneficiary of the operational risk insurance protection provided by the new Operational Re III Ltd. deal being investment banking giant Credit Suisse, Artemis has learned.
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