Market Overview

Assured Guaranty Wraps Port of Brisbane Bond Issuance


AUD $100 million Guaranteed Financing for the Port of Brisbane - a
Significant Transaction for Assured Guaranty in the Australian Market

Assured Guaranty (Europe) plc (AGE)* announced that it guaranteed
principal and interest payments on $100 million Australian dollars of
bonds issued by QPH Finance Co Pty Limited, the primary bond issuer for
the Port of Brisbane in Australia. The bond issuance is to refinance
existing facilities and for general corporate purposes at the Port of

The 25-year fixed-rate bonds were recently issued to a group of South
Korean investors, of which DB Life Insurance Co., Ltd was the largest
single investor, at a coupon of 4.71% as a private placement. AGE's
credit protection was provided on a secondary market basis for the
ultimate benefit of those investors, simultaneously with the bond
issuance. As a result of the financial guarantee provided by AGE, the
investors were able to benefit from AGE's AA rating from S&P Global

The Port of Brisbane is the largest multi-cargo port in the state of

Dominic Nathan, Managing Director, AGE, commented:

"This is a significant transaction for AGE in the Australian
market, and our first new deal in Australia since the global financial
crisis. We are delighted to have marked our return by guaranteeing a
debt issuance by the operators of such a vitally important piece of
infrastructure as the Port of Brisbane. We expect to replicate our
success on this transaction with other Australian infrastructure or
utility companies that seek to take advantage of our long term and
cost-effective funding solution."

Nick Proud, Chief Executive Officer of AGE, commented:

"The transaction provides evidence of AGE's ability to innovate
and add value in new markets. Our credit analysis and risk monitoring
expertise across a number of jurisdictions and asset classes, coupled
with the significant regulatory capital savings generated by AGE's
credit protection, facilitates the participation of investors in Asia in
the international infrastructure and utility debt capital markets. This
ultimately opens up a new universe of potential investors for issuers
like the Port of Brisbane."

AGE guarantees timely payment of scheduled principal and interest to
bondholders throughout the life of the bonds, in accordance with the
terms of its financial guarantees.

The legal advisers of AGE on the transaction were White & Case (Sydney)
and Linklaters (London). Sydney based DTW Capital Solutions provided
financial advice and Allen & Overy provided legal advice to the


All of the securities having been sold, this announcement is for
information purposes only.
This announcement does not
constitute an offer to sell or the solicitation of an offer to buy any

The securities described herein have not been and will not be
registered under the United States Securities Act of 1933, as amended
("Securities Act"), or with any securities regulatory authority of any
state or jurisdiction of the United States, and may not be offered, sold
or transferred, directly or indirectly, in the United States absent
registration under the Securities Act or an available exemption from, or
in a transaction not subject to, the registration requirements of the
Securities Act and the securities laws of any state or other
jurisdiction of the United States.

* AGE (company number 2510099) is authorised by the Prudential
Regulation Authority and regulated by the Financial Conduct Authority
and the Prudential Regulation Authority. AGE provides its financial
guarantee together with a co-guarantee from its affiliate Assured
Guaranty Municipal Corp. (AGM).

Through its subsidiaries, Assured Guaranty Ltd. (AGL and,
together with its subsidiaries, Assured Guaranty) is the leading
provider of financial guarantees for principal and interest payments due
on municipal, public infrastructure and structured financings. Its
subsidiary AGM guarantees international infrastructure and U.S.
municipal bonds - and was previously named Financial Security Assurance
Inc. (FSA) before becoming an Assured Guaranty company in July 2009.
AGE, a subsidiary of AGM, is Assured Guaranty's European operating
platform. AGL is a publicly traded (NYSE:AGO), Bermuda-based holding
company. More information on AGL and its subsidiaries can be found at

Cautionary Statement Regarding Forward-Looking Statements:

Any forward-looking statements made in this press release reflect
Assured Guaranty's current views with respect to future events and are
made pursuant to the safe harbour provisions of the Private Securities
Litigation Reform Act of 1995. Such statements involve risks and
uncertainties that may cause actual results to differ materially from
those set forth in these statements. These risks and uncertainties
include, but are not limited to, those resulting from Assured Guaranty's
inability to execute its strategies; the demand for Assured Guaranty's
financial guarantees; further actions that the rating agencies may take
with respect to Assured Guaranty's financial strength ratings; adverse
developments in Assured Guaranty's guaranteed portfolio; and other risks
and uncertainties that have not been identified at this time,
management's response to these factors, and other risk factors
identified in AGL's filings with the U.S. Securities and Exchange
Commission. Readers are cautioned not to place undue reliance on these
forward-looking statements, which are made as of September 5, 2018.
Assured Guaranty undertakes no obligation to publicly update or revise
any forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by law.

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