SafePort and SafeChoice up target and lower price guidance on Gateway Re
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SafePort and SafeChoice up target and lower price guidance on Gateway Re

Liz Bury
12 April 2023
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US Currency: Wads of US bills fastened with rubber bands, close-up

SafePort and SafeChoice have raised the target on their Gateway Re catastrophe bond by 25% to $125mn, this publication understands.

The top edge of pricing guidance dropped by 50 basis points (bps) bringing the range to 950-975 bps, and giving a midpoint multiplier of 5.4x

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