Lancashire gets muted welcome for debut Tier 2

摘要

LANCASHIRE HOLDINCS made its debut in the Reg S market with a US$400m Tier 2 issue on Thursday that some observers deemed underwhelming, while bankers on the deal insisted it achieved the issuer's targets and represented a good result for the lesser-known credit. The deal is the Bermuda-based and UK-listed insurer's first benchmark issue, and marked a rare appearance for a Bermudan issuer in the Reg S market.