Jun 21, 2019
Cadwalader acted as transaction counsel on the Fidus Re insurance-linked bond, which was named Life Transaction of the Year at the 2019 Trading Risk Awards in London. Cadwalader accepted the award jointly with Build America, a mutual insurer and sponsor of the transaction, and Goldman Sachs & Co. LLC., as arranger.
Fidus Re provides protection to Build America in respect of a portfolio of public-purpose municipal bonds. It is the first insurance-linked bond transaction to cover financial guaranty insurance risk and the first to cover municipal bonds.
Cadwalader’s insurance-linked securities team includes partners Frank Polverino and Ira Schacter and special counsel Matthew Feig in New York, partner Robert Cannon and special counsel Michael Sholem in London, and lawyers from across the firm’s capital markets, financial regulation, tax and corporate practices.
The Bank of England has initiated a review of its own exposure to LIBOR,
Scott Cammarn, Jonathan Watkins, Mark Chorazak, Aaron Lang
On 7 June 2019, Regulation (EU) 2019/876 (CRR II) was published in the Official Journal of the EU.