Friday, November 11, 2016

GC Securities locations $30 Million global bank Cat Bond for CCRIF



GC Securities, a department of MMC Securities Corp., a U.S. registered broking-provider and member FINRA/NFA/SIPC, introduced the position of Floating rate CCRIF disaster-connected Capital at threat Notes, with notional essential of $30,000,000, issued by using the international financial institution for Reconstruction and development, a member organization of the world bank institution.
The cat bond helps the transfer of danger on behalf of the Caribbean catastrophe hazard insurance Facility (CCRIF), a threat-pooling facility that is designed to restrict the financial effect on its 16 Caribbean member governments due to catastrophic earthquakes and hurricanes by means of quick imparting economic liquidity while a coverage is brought on.
GC Securities bulletin stated that this “is the primary time that the CCRIF has applied the cat bond marketplace and the primary catastrophe bond at once issued by the world financial institution.
“The bond provides 3 years of annual mixture safety for storm and earthquakes affecting sixteen Caribbean nations taking part inside the CCRIF.”
GC Securities served as the only placement agent of the notes and co-structuring agent on behalf of CCRIF.

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