World Bank Prices $200 Million Catastrophe Bond for Jamaica

The World Bank has priced a new catastrophe bond designed to help Jamaica cope with the threat of hurricanes.

The $200 million bond was oversubscribed by investors, the World Bank said in a statement. The deal comes less than a year after a $150 million Jamaica catastrophe bond, also arranged by the World Bank, paid out in full following the devastation wrought by Hurricane Melissa.