Guy Carpenter & Co. and GC Securities said they have completed a deal worth €275 million ($385 million) Class A principal at-risk variable rate notes due January 10, 2014 from a newly created 144A catastrophe bond program called Calypso Capital.

Calypso is an Irish special purpose company created to provide protection to AXA Global P&C. The Series 2010-1 note offering, the largest euro-denominated issuance in the history of the catastrophe bond market, will provide protection against European windstorm events.

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