Conyers acted as special Bermuda counsel, advising on the establishment and licensing of Bellemeade Re 2019-4 Ltd. as a special purpose insurer. The transaction included the issuance of a total of US$577.26 million Series 2019-4 Mortgage Insurance-Linked Notes to investors. Our role included assisting with the preparation of documents, facilitating the listing of the notes on the Bermuda Stock Exchange and providing Bermuda law advice to the company up to closing. This was the fourth mortgage insurance bond vehicle of 2019 sponsored by Arch Mortgage Insurance Company and United Guaranty Residential Insurance Company and took the total issuance of mortgage insurance linked notes across all of the Bellemeade vehicles to over US$4.7 billion.
Director Alexandra Macdonald and Associates, William Cooper, Katie Martin and Davina Hargun (Trusts) of Conyers’ Bermuda office advised on the matter.