March 10, 2020 / 5:31 PM / a month ago

Mexico issues 4-year, $485 mln catastrophe bond

MEXICO CITY, March 10 (Reuters) - Mexico’s government issued a four-year catastrophe bond worth about $485 million through the World Bank, part of a strategy to safeguard the country’s finances against damages caused by natural disasters, the finance ministry said on Tuesday.

Mexico is frequently hit by hurricanes and was rocked by two large earthquakes in 2017, which led to hundreds of deaths and billions of dollars in damages. (Reporting by Anthony Esposito; Editing by Stefanie Eschenbacher)

Nuestros Estándares:Los principios Thomson Reuters
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