Conyers acted as special Bermuda counsel, advising on the establishment and licensing of Bellemeade Re 2021-1 Ltd. as a special purpose insurer. The transaction included the issuance of a total of US$579,717,000 Series 2021-1 Mortgage Insurance-Linked Notes to investors. Conyers’ role included assisting with the preparation of documents, registering the company with the Bermuda Monetary Authority, 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 first mortgage insurance note vehicle of 2021 sponsored by Arch Mortgage Insurance Company and United Guaranty Residential Insurance Company.
Director Alexandra Macdonald and Associates William Cooper and Davina Hargun of Conyers’ Bermuda office advised on the matter.