Conyers advised Sanders Re Ltd. on the issuance of notes under its Principal-at-Risk Variable Rate Note Program, including US$375 million Series 2017-1, Class A Principal-at-Risk Variable Rate Notes. The issuance provided Allstate Insurance Company and certain of its affiliates with fully-collateralized reinsurance protection against covered exposures. The notes are listed on the Bermuda Stock Exchange and are due 6 December 2021.
Jacqueline King of Conyers’ Bermuda office advised on this matter, working alongside Willkie Farr & Gallagher LLP. Mayer Brown LLP acted for Aon Securities Inc. and Goldman, Sachs & Co.