Mar 2026
Conyers advised special purpose insurer Locke Tavern Re Ltd. on its issuance of a total of US$250 million Series 2026-1 Principal At-Risk Variable Notes comprising US$125 million Series 2026-1 Class A Principal At-Risk Variable Notes due 9 April 2029 and US$125 million Series 2026-1 Class B Principal At-Risk Variable Notes due 9 April 2029 to investors.
Conyers’ role included assisting with the preparation of documents, 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 second catastrophe bond sponsored by one of the largest and longest-standing mutual insurance groups in the Northeast, The Andover Companies.
Director Alexandra Macdonald and Associate Nicole Yearwood of Conyers’ Bermuda office advised on this matter, working alongside Sidley Austin LLP.