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 IQUW Re was assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent) by AM Best. 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, have backed the $170M debt raise for IQUW as it continues to build-out its Bermuda platform. Howden Capital Markets & Advisory acted as financial advisor to IQUW.
Appleby advised on the Bermuda law aspects of the transaction, including reviewing the transaction agreements, preparing the requisite approvals for the relevant entities in the IQUW corporate group, and issuing an opinion in respect of the notes issuance.
The Appleby team included Bermuda Managing Partner Brad Adderley, Counsel Josephine Noddings and Associate Larissa Dziubenko.
