By Wendy Van Sickle
Columbus, Ohio, Oct. 28 – Peak Re (BVI) Holding Ltd. priced $250 million of 5.35% perpetual subordinated guaranteed capital securities (Baa2), according to a listing notice with the Stock Exchange of Hong Kong Ltd.
The issuer is a special purpose vehicle and wholly owned subsidiary of Peak Reinsurance Co. Ltd., which will guarantee the securities.
Citigroup and HSBC are the global coordinators, lead managers and bookrunners.
Hong Kong-based Peak provides reinsurance and underwriting services.
Issuer: | Peak Re (BVI) Holding Ltd.
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Guarantor: | Peak Reinsurance Co. Ltd.
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Issue: | Subordinated guaranteed capital securities
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Amount: | $250 million
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Maturity: | Perpetual
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Bookrunners: | Citigroup and HSBC
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Coupon: | 5.35%
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Rating: | Moody’s: Baa2
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Listing date: | Oct. 29
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