Pelican IV Re Ltd. Series 2017-1

Louisiana Citizens Property Insurance Corporation’s latest catastrophe bond, the $100 million Pelican IV Re Ltd. (Series 2017-1) transaction, is set to achieve pricing at the bottom end of already reduced guidance, reflecting a 25% drop in the coupon during marketing.

Coupon price guidance for the new $100 million Pelican IV Re Ltd. (Series 2017-1) catastrophe bond, which is sponsored by Louisiana Citizens Property Insurance Corporation, has been lowered to below the launch level, as cat bond investors continue to demonstrate their appetite for new issues.

Louisiana Citizens Property Insurance Corporation is returning to the catastrophe bond market in 2017, with a $100 million Pelican IV Re Ltd. (Series 2017-1) transaction covering named storm risks across a three-year reinsurance term.