Mexico gets CAT bond payout

Mexico gets CAT bond payout

Mexico Bonds

Mexico's finance ministry said it will receive a $150m payout from the World Bank catastrophe (CAT) bonds issued back in August.The payment triggered after an earthquake hit Mexico City on September 7.Mexico issued $360m of these instruments, which provide financial protection against earthquakes and tropical cyclones. The bonds were sold under the World Bank's capital at risk notes program, created in 2014. The three-prong transaction covers disasters, including earthquakes, Atlantic

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