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CAT Bond prices 4.90% over Libor

Bookrunner Goldman Sachs priced the Residential Re U.S. hurricane risk securitization last Friday at +490bp/3ML (par). The 3-year bullet for United States Automobile Association (USAA) was upsized to $125 million from $100 million. Lehman Brothers and Merrill Lynch were co-leads on the all pot issue.

Investors in the Residential...

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