A forever bond issued 400 years ago still pays interest. Here’s how much the holder just got

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Posted on 12/16/2024 4:31:49 AM PST by C19fan

Most bonds mature eventually and are redeemed after periods of months, years, or even decades. And then there are so-called perpetual bonds.

These bonds have no maturity date and just keep paying interest to the holder forever. On Tuesday, the owner of a perpetual bond that was issued 400 years ago received a payment at a ceremony attended by the Financial Times.

(Excerpt) Read more at msn.com ...

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The British issues consols during the 18th century to reorganize all the debt it acquired fighting wars against France. The consols were perpetual debt that just paid interest. Also called The Funds, they would get mentioned in novels including Jane Austen. Sadly the consols were called in by the British a few years ago.

1 posted on 12/16/2024 4:31:49 AM PST by C19fan

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