Asian Development Bank Issues $160M Catastrophe Bonds, Structured by Munich Re

Deal Summary

The Asian Development Bank (ADB) launched its first catastrophe bond issuance, raising $160 million to fund disaster risk financing for the Kyrgyz Republic and Tajikistan. Munich Re served as the sole structuring agent, while Aon Securities acted as dealer, initial purchaser and bookrunner. The bonds, split $80 million each, provide parametric coverage for earthquakes and extreme precipitation.