Apr 2025
Conyers advised on the establishment and licensing of Greengrove Re Ltd. as a special purpose insurer. The transaction included the issuance of US$100 million Series 2025-1 Class A Principal-at-Risk Variable Notes to investors.
Conyers’ role included assisting with the preparation of documents, registering the company with the Bermuda Monetary Authority, facilitating the listing of the notes on the Bermuda Stock Exchange alongside Conyers Securities (Bermuda) Limited as listing sponsor, and providing Bermuda law advice to the company up to closing. This was the first Bermuda catastrophe bond transaction sponsored by Sutton National Group and administered by Bamboo Ide8 Insurance Services, LLC.
Director Alexandra Macdonald, Associate Nicole Yearwood worked alongside Willkie Farr & Gallagher LLP as legal advisers to the Issuer. Private Client Director Davina Hargun and Associate Angelica Wales also assisted with the set up. Conyers Securities (Bermuda) Limited acted as listing sponsor.