BSX approves Queen St notes
The listing committee of the Bermuda Stock Exchange (BSX) has announced the approved listing of the Queen Street III Capital Ltd’s principal at-risk variable notes due on July 28, 2014.
The listing constitutes a $150 million dollar issuance under the Exchange’s restricted marketing provisions for qualified investors and section V of the BSX listing regulations for international issuers of insurance-related securities.
Queen Street III Capital is an Irish private limited company incorporated under the laws of Ireland.
The purpose of the principal at-risk note programme is to provide the Issuer with funds in order to support its obligations under the respective risk transfer contracts it enters into with the risk transfer contract counterparty - Munich Re, specified in the applicable offering circular supplement.