Reinsurer Munich Re said last Monday that it privately placed 110 million ($129 million) of risk-linked securities to provide protection against severe Western European windstorms.

BNP Paribas acted as lead manager on the deal and Risk Management Solutions modeled the underlying risk. Munich American Capital Markets, the capital markets unit of Munich Re, worked with BNP Paribas in structuring and managing the transaction. The bonds have a coupon of 475 basis points over three-month EURIBOR.

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