8 August 2014ILS

Kane announces two new cat bond issuances

Kane SAC, a subsidiary of Kane, has announced two new issuances through its Limited Note Program, the firm’s independent private catastrophe bond platform.

The issuances, a pair of $7,320,000 Series 2-2014 and $9,245,000 Dodeka III At-Risk Notes, have been listed on the Bermuda Stock Exchange (BSX).

They are the sixth and seventh issuances to have taken place since Kane launched the catastrophe bond platform in August 2013.

The following is a list of Kane SAC notes registered on the BSX as at August 4th, 2014:

Description of Securities     Nominal Amount    Due Date

Dodeka I                                        $21,934,000                  16 January 2015

Dodeka II                                       $23,007,550                  15 December 2014

Dodeka III                                      $9,245,000                    31 July 2015

Dodeka IV                                      $25,540,260                 17 December 2014

Series 1-2014                               $50,120,000                 07 April 2015

Series 2-2014*                             $7,320,000                   10 June 2015

Commenting on the new listings, Robert Eastham, managing director, Kane (Bermuda) Limited, says: “We are delighted to be able to announce a further two note issuances through the Kane SAC Limited Note Program as we approach our first anniversary. Our success in this relatively short period shows that the platform is becoming a market-recognized means of facilitating the flow of smaller, cost-effective transactions into the capital arena.”




More on this story

News
13 May 2021   The Bermuda Stock Exchange (BSX) has joined the United Nations (UN) Sustainable Stock Exchanges (SSE) initiative as a partner exchange.
News
12 January 2021   Miami International Holdings (MIH) is planning to make “major investments” in the Bermuda Stock Exchange (BSX) in 2021 and 2022, according to Thomas Gallagher, chairman and chief executive of MIH and chairman of BSX.
ILS
13 October 2020   ILS Bermuda turned a problem into an advantage with its Convergence 2020 conference, using the need to host its first digital event as an opportunity to expand its reach and attract a record number of overseas delegates.