Nov 2025
Conyers acted as special Bermuda legal counsel to special purpose insurer Hexagon IV Re Ltd. on its EUR€250,000,000 catastrophe bond issuance including EUR€200,000,000 Series 2025-1 Class A Principal At-Risk Variable Rate Notes due 22 January 2030 and its EUR€50,000,000 Series 2024-1 Class B Principal At-Risk Variable Rate Notes due 21 January 2028 to investors.
Conyers’ role included assisting with the preparation of documents, advising on the company’s licence from 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 the Covéa Group, a French mutual insurance group.
Director Alexandra Macdonald, Senior Associate Kathleen McBeath and Associate Celine Collis of Conyers’ Bermuda office advised on the matter, working alongside Cadwalader, Wickersham & Taft LLP.