Mar 2025
Conyers advised special purpose insurer Hestia Re Ltd. on its US$300 million catastrophe bond issuance including US$200 million Series 2025-1 Class A Principal At-Risk Variable Rate Notes due 13 March 2028 and US$100 million Class B Principal At-Risk Variable Rate Notes due 13 March 2028 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 the 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 as Deal Counsel.