Atlantic & Western Re Limited was set to price a $300 million catastrophe bond private placement last week on the heels of two vicious hurricane seasons that saw eight storms ravage the U.S. Gulf Coast and Florida regions in the past 15 months. The deal marks the sixth issuance this year in the under-the-radar sector.

The deal, led by Goldman Sachs, consists of two, five-year tranches, a $100 million class A tranche, which Fitch Ratings expects to rate BB' and a $200 million class B tranche expected to be rated at the B' level by Fitch. A Goldman Sachs official said the firm could not comment on the deal as it is a private placement, and had yet to price. The deal was expected to price last Friday.

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