SECOND CAELUS RE CAT BOND FOR NATIONWIDE GROWS TO 820M

The second 2013 catastrophe bond that Cayman Islands-based special-purpose vehicle Caelus Re is issuing on behalf of US p/c group Nationwide Mutual to cover US hurricane and earthquake risks has grown to $320m from the initial $225m, according to specialist news web site Artemis. The deal is likely to be priced at 6.85%, in the middle of a range of 6.25% and 7.25% at which the transaction was initially marketed, Artemis said. The Caelus Re 2013-1 bond issuance, which closed in mid-March, grew to $270m from an initial $200m.