New BNP Paribas bond targets UK pension liabilities

BNP Paribas today launched the first bond directly targeting UK pension fund liabilities with cash flow based against the life expectancies of pension scheme members.

The £540m Longevity Bond, designed by BNP Paribas and PartnerRe, a seller of risk assumption products to the insurance and capital markets, is issued by the European Investment Bank.

WSJ Logo