Kane SAC Limited (Series 2015-1) – Full details:
The Kane SAC Limited Note Program has facilitated another private catastrophe bond issuance, with the issuance of a $50.2m 2015-1 series of insurance-linked notes that have also been listed on the Bermuda Stock Exchange (BSX).
The $50.2m of notes have been issued using a Kane SAC Limited Series 1-2015 Segregated Account. The notes have been listed on the BSX as insurance related securities, and have a due date of 7th April 2016.
This looks like it might be a renewal of the $50.12m Kane SAC Limited issuance that came to market just over a year ago. That transaction, a U.S. earthquake linked indemnity private cat bond, also had a due date of 7th April.
We don’t have any details on the perils at risk from the underlying reinsurance contract in this Kane SAC Limited (Series 2015-1) issuance, or the trigger type at this time. We will update you should that information become available.
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