Blue Ridge Re cat bonds issued

The Bermuda Stock Exchange has admitted $400 million worth of catastrophe bonds issued by Blue Ridge Reinsurance. 

The four-year Class A and Class B bonds are sponsored by the North Carolina Farm Bureau and carry  coupon of 5.25% and 8% respectively. 

The bonds will now provide the non-profit insurer with multi-year reinsurance against named storm losses in its state of North Carolina.