Beazley plumps for dollars over sterling for $300m T2

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By Tyler Davies
05 Sep 2019

Beazley Insurance dac eschewed the sterling market to raise $300m of tier two capital in the dollar market this week, ending up with a trade that was four times subscribed by Reg S investors.

The Dublin-based insurance company began marketing its 10 year tier two during Asia market hours on Tuesday.

By the time the market had opened in London, the issuer was already able to report indications of interest of $600m — two times the deal’s expected size of $300m.

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