Appleby Bermuda Advised IQUW In Connection With Its $170M Debt Raise
Appleby Bermuda Advised IQUW In Connection With Its $170M Debt Raise
Appleby advised on the Bermuda law aspects of the transaction including preparing the requisite approvals for the relevant entities in the IQUW corporate group, issuing an opinion with respect to the notes issuance and reviewing the transaction agreements.
Appleby advised IQUW Holdings Bermuda Limited and its subsidiary IQUW Re Bermuda Limited (IQUW Re) with respect to the issuance of $170M senior unsecured notes in connection with which AM Best assigned IQUW Re a financial strength rating of A (excellent) and a long-term issuer credit rating of a (excellent). The $170M debt raise for IQUW has been backed by Hudson Structured Capital Management Ltd. (conducting its re/insurance business as HSCM Bermuda), a reinsurance, insurtech, insurance-linked securities and transportation focused investment manager; and Kilter Finance, an insurance-focused specialty financing company as IQUW continues to build out its Bermuda platform. Financial advisor to IQUW was Howden Capital Markets & Advisory.
Appleby advised on the Bermuda law aspects of the transaction including preparing the requisite approvals for the relevant entities in the IQUW corporate group, issuing an opinion with respect to the notes issuance and reviewing the transaction agreements. Bermuda managing partner Brad Adderley, counsel Josephine Noddings and associate Larissa Dziubenko constituted the Appleby team.
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