Pandemic cat bond news

Pandemic cat bond news related to the World Bank’s issuance of pandemic catastrophe bonds as part of the insurance window financing for the Pandemic Emergency Financing Facility (PEF).

The World Bank’s IBRD issued $320 million of pandemic catastrophe bonds and $105 million of pandemic risk linked swaps to provide capital markets backed reinsurance financing for the PEF.

The pandemic cat bond notes faced threats from an Ebola outbreak and the 2019/20 Covid-19 coronavirus pandemic.

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Pandemic cat bond prices to drop again on coronavirus spread: Plenum

Secondary market pricing for the World Bank's pandemic catastrophe bond notes are set to decline, significantly for one tranche, after the coronavirus outbreaks spread resulted in a second triggering condition being met, Plenum Investments believes. While the pandemic cat bond issued by the World Bank has not yet been triggered and read the full article →

Coronavirus outbreak meets another pandemic cat bond trigger condition

The spreading global outbreak of the novel coronavirus (2019-nCoV or Covid-19) has now met another of the conditions within the trigger mechanism of the World Bank’s pandemic catastrophe bond transaction, raising the chance that noteholders face losses in the coming weeks. As we have explained, the novel coronavirus (2019-nCoV or Covid-19) read the full article →

Coronavirus pressure on pandemic cat bond rises as virus spreads

The pressure is rising on the World Bank’s pandemic catastrophe bond transaction as the novel coronavirus (2019-nCoV or Covid-19) spreads internationally and the number of deaths in certain countries around the globe nears the trigger point. As we explained in January, the novel coronavirus (2019-nCoV or Covid-19) outbreak that began in read the full article →

Pandemic cat bond secondary price reacts as coronavirus cases rise

The secondary market indicative price for one tranche of the World Bank’s pandemic catastrophe bond transaction has now responded to the rise in cases from the novel coronavirus outbreak. As we explained previously, the novel coronavirus (2019-nCoV or Covid-19) outbreak that began in the city of Wuhan in Hubei province China read the full article →

No coronavirus price response from World Bank’s pandemic cat bond yet

The developing and still worsening outbreak of a novel coronavirus in China has not yet caused any price response from the World Bank’s pandemic catastrophe bond transaction. As we explained last week, the novel coronavirus (2019-nCoV) outbreak that began in the city of Wuhan in Hubei province China could pose a read the full article →

China most likely coronavirus source for World Bank’s pandemic cat bond

The worsening outbreak of a novel coronavirus in China has brought the World Bank's pandemic catastrophe bond transaction back into focus and it turns out that China was seen as the most probable source of a coronavirus outbreak that could trigger the IBRD CAR 111-112 notes. The coronavirus outbreak that began read the full article →

World Bank pandemic facility sends another $30m for Ebola response

The World Bank’s Pandemic Emergency Financing Facility (PEF) has sent a further $30 million to aid the Democratic Republic of Congo's (DRC) response to the Ebola outbreak. The $30 million disbursal comes from the Pandemic Emergency Financing Facility's (PEF) cash window, not the insurance window that is backed by the pandemic read the full article →

World Bank links catastrophe & pandemic risk finance for the Maldives

The World Bank has delivered the first of a new combined catastrophe and pandemic contingent risk financing solution to the Maldives, leveraging existing structures to create something responsive and that works similar to insurance for the archipelagic nation. The Maldives is highly exposed to natural hazards and climate variability, and is read the full article →

Ebola outbreak declared international emergency by WHO

The Ebola disease outbreak in the DR Congo has been declared a Public Health Emergency of International Concern by the World Heath Organisation (WHO), as it highlights the urgency needed to address the outbreak and stem its travel across borders. It should be noted that this specific declaration does not mean read the full article →

Ebola outbreak crosses border, risk of pandemic cat bond triggering rises

The risk that the World Bank’s pandemic catastrophe bond transaction triggers and makes a payout appears to have risen significantly, as the World Heath Organisation (WHO) reports that the Ebola outbreak in the Democratic Republic of Congo has now spread across the border to Uganda. The WHO said that it has read the full article →