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Issues of property tax bonds fall during the first quarter



The limit for real estate disaster bonds placed during the first quarter of 2021 decreased by 31.5% to $ 2.57 billion compared to the first quarter of 2020, according to a report Tuesday from Aon Securities, part of Aon PLC.

The first quarter of the year, however, was still the third highest quarterly issue in the first quarter of the last ten years.

The issues in the first quarter consisted of nine property / damage transactions by nine sponsors with an average business size of $ 285 million, compared to 14 transactions with 13 sponsors in the first quarter of 2020 with an average transaction size of $ 268 million.

Outstanding bonds for real estate disasters increased $ 450 million to $ 31

.5 billion at the end of the quarter. "We want to put cash into work," Aon said.

"We believe that the increased pipeline will continue during the second and second quarters of 2021," with the market "positive momentum" for the rest of 2021.

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