Mexico issues cat bonds

Mexico issues cat bonds

Bonds Debt Capital Markets Corporate & Sovereign Strategy Economy & Policy Mexico US Europe

The Mexican government said on Tuesday it sold $485 million worth of catastrophe bonds in a deal with the International Bank for Reconstruction and Development (IBRD), the lending arm of the World Bank. In the case of an earthquake or a hurricane, the IBRD will supply the money raised from the sale of four-year cat bonds to Mexico's natural disasters fund Fonden to provide relief and repair damages, the Finance Ministry said in a statement. Goldman Sachs, Guy Carpenter and Swiss Re structured th

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