Apr 2026
Conyers advised special purpose insurer Hestia Re Ltd. on its US$335 million catastrophe bond issuance.
The transaction occurred in four tranches, including US$100 million Series 2026-1 Class A Principal At-Risk Variable Rate Notes due 16 April 2029, US$100 million Series 2026-1 Class B Principal At-Risk Variable Rate Notes due 16 April 2029, US$35 million Series 2026-1 Class C Zero Coupon Notes due 15 April 2027 and US$100 million Series 2026-1 Class D Principal At-Risk Variable Rate Notes due 16 April 2029 to investors.
Conyers’ role included assisting with the preparation of documents, 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 Kin Interinsurance Network.
Director Alexandra Macdonald and Associate Nicole Yearwood of Conyers’ Bermuda office advised on the matter, working alongside Willkie Farr & Gallagher LLP.