October 10, 2017 / 10:30 PM / 9 months ago

Mexico to receive $150 million from catastrophe bond after quake

MEXICO CITY (Reuters) - Mexico’s will receive a pay out of $150 million from a catastrophe bond after a Sept. 7 quake met parameters for magnitude, location and depth, the finance ministry said in a statement on Tuesday.

Reuters reported on Oct. 4 that the government expected to receive the funds and that it is looking at placing a new issue.

Mexico was hit by two devastating quakes last month, the Sept. 19 tremor that hit Mexico City hard and an even more powerful earthquake that struck the country’s south on Sept. 7.

Reporting by Michael O'Boyle. Editing by Christine Murray

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