Jul 2026
Conyers advised special purpose insurer, Kilimanjaro III Re Limited on Bermuda law matters in connection with its new Series 2026-1 US$350 million and Series 2026-2 US$280 million catastrophe bond issuances sponsored by Everest Re which were listed on the Bermuda Stock Exchange.
The Series 2026-1 issuance consisted of:
- US$70,000,000 Series 2026-1 Class B-1 Principal-at-Risk Variable Rate Notes due 9 July 2029
- US$60,000,000 Series 2026-1 Class C-1 Principal-at-Risk Variable Rate Notes due 9 July 2029
- US$220,000,000 Series 2026-1 Class D-1 Principal-at-Risk Variable Rate Notes due 9 July 2029
The Series 2026-2 issuance consisted of:
- US$50,000,000 Series 2026-2 Class A-2 Principal-at-Risk Variable Rate Notes due 8 July 2030
- US$60,000,000 Series 2026-2 Class B-2 Principal-at-Risk Variable Rate Notes due 8 July 2030
- US$170,000,000 Series 2026-2 Class D-2 Principal-at-Risk Variable Rate Notes due 8 July 2030
Director Alexandra Macdonald and Associate Nicole Yearwood of Conyers’ Bermuda office worked alongside Mayer Brown LLP, New York.