A $70 million cat bond denominated in Japanese yen has been listed on the Bermuda Stock Exchange.

The notes are valued at ¥8 billion, about $70.6 million, and have been issued by Shima Re Ltd through the segregated account Hotaru 2.

Shima Re is the 2012 start-up of Tokio Millenium Re.

The notes are of a two-year duration and become due on August 7, 2019.

Two years ago Shima Re’s ¥5.8 billion Hotaru notes were issued. Those notes become due this year on August 7.