Bonds will be priced in USD. Will raise 1 billion which 50% will go to buy Bitcoin and 50% to finance infrastructure etc. Bitcoin lock up will be 5 years at which point El Salvador will sell the Bitcoin and share half of profits beyond initial investment with investors. I am not sure if there is a traditional coupon attached as well but if there is that would be paid in USD and I believe they will be tradeable on the Liquid network.
Samson Mow, chief strategy officer of blockchain technology company Blockstream who was on stage with Bukele said that the 'volcano bonds' - the new city will be powered with geothermal energy from a nearby volcano - will be U.S. dollar-denominated 10-year bonds and carry a coupon of 6.5%.
The bonds will be able to be traded 24/7 with other assets like stablecoins, according to a blogpost from Blockstream, Mow's company which plans to issue the bonds.
They are citing blockstream blogpost for some of what they are reporting.
Bonds will be priced in USD. Will raise 1 billion which 50% will go to buy Bitcoin and 50% to finance infrastructure etc. Bitcoin lock up will be 5 years at which point El Salvador will sell the Bitcoin and share half of profits beyond initial investment with investors. I am not sure if there is a traditional coupon attached as well but if there is that would be paid in USD and I believe they will be tradeable on the Liquid network.
Issued through Bitfinex, which does not serve those in the U.S.
I presume that individuals and institutions that want exposure can register as a foreign entity and buy using that.
Reuters Article has some info: https://www.reuters.com/markets/us/what-we-know-so-far-about-el-salvadors-volcano-powered-bitcoin-bond-2021-11-22/
They are citing blockstream blogpost for some of what they are reporting.