Dec 2024
Conyers advised special purpose insurer Herbie Re Ltd. on its US$150 million catastrophe bond issuance, including US$150 million Series 2024-2 Class A Principal-at-Risk Variable Rate Notes due January 8, 2029, US$150 million Series 2024-2 Class B Principal-at-Risk Variable Rate Notes due January 8, 2029, and US$75 million Series 2024-2 Class C Principal-at-Risk Variable Rate Notes due January 8, 2027 to investors.
Conyers’ role included assisting with the preparation of documents, registering the company with the Bermuda Monetary Authority, advising on the listing of the notes on the Bermuda Stock Exchange, and providing Bermuda law advice to the company up to closing. This was another Bermuda catastrophe bond transaction sponsored by Fidelis Insurance Bermuda Limited.
Conyers Director Alexandra Macdonald and Associates Nicole Yearwood and Kathleen McBeath advised on this matter, working alongside Willkie Farr & Gallagher (UK) LLP, Willkie Farr & Gallagher LLP and Mayer Brown LLP.