Calyon Acts as the Sole Arranger and Manager of a US Wind & US Earthquake Risk Portfolio Securitisation.PARIS Paris, in Greek mythology Paris or Alexander, in Greek mythology, son of Priam and Hecuba and brother of Hector. Because it was prophesied that he would cause the destruction of Troy, Paris was abandoned on Mt. -- Calyon announced today the successful completion of the private placement of Pinnacle, a risk-linked securitisation based on the senior and the mezzanine mez·za·nine n. 1. A partial story between two main stories of a building. 2. The lowest balcony in a theater or the first few rows of that balcony. portions of a USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 128 million reference portfolio of catastrophe bonds catastrophe bond A debt security with a payoff tied to the relative severity of a natural disaster such as a hurricane or earthquake. Bondholders are paid with insurance premiums but may have to accept reduced principal repayment in the event the specified and insurance-linked derivatives. The transaction was privately placed in the form of a USD 33 million and USD 30 million mezzanine and senior tranche Tranche One of several related securities offered at the same time. Tranches from the same offering usually have different risk, reward, and/or maturity characteristics. tranche A class of bonds. , respectively. 50% of the senior tranche was rated A+ by Standard & Poor's. The transaction has a one-year maturity. Pinnacle is based on a reference portfolio of diversified hurricane and earthquake risk in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . All underlying contracts are indexed either to market losses or based on modeled losses. The entire portfolio has been modeled by AIR Worldwide Corporation for purposes of the securitisation. Calyon Alternative Risk Transfer (ART) group acted as sole arranger of the transaction. Part of the Calyon Capital Markets securitisation product line, the ART group focuses on insurance securitisations and other structured solutions tailored to the life and non-life re/insurance sector. THIS COMMUNICATION IS NOT AN OFFER OF SECURITIES FOR SALE IN THE UNITED STATES, AND SECURITIES MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES ABSENT REGISTRATION OR AN EXEMPTION FROM REGISTRATION. ANY PUBLIC OFFERING OF SECURITIES TO BE MADE IN THE UNITED STATES, IF APPLICABLE, WILL BE MADE BY MEANS OF A PROSPECTUS THAT MAY BE OBTAINED FROM CALYON, AND THAT WILL CONTAIN DETAILED INFORMATION ABOUT CALYON AND ITS MANAGEMENT, AS WELL AS FINANCIAL STATEMENTS. Note to Editors About Calyon Corporate and Investment Bank Calyon is Credit Agricole's Corporate and Investment Banking entity. Backed by Credit Agricole S.A.'s credit ratings and financial strength ratings, Calyon is a major player in financial markets and among Europe's leading corporate and investment banks The following is a list of investment banks Financial conglomerates Large financial-services conglomerates combine commercial banking and investment banking, and sometimes insurance. by revenues. With a staff of 13,000 employees in more than 55 countries, Calyon is active in a broad range of Capital Markets, Investment Banking and Financing activities. The Capital Markets division covers all aspects of the trading and sale of both standard and structured capital markets products. |
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