2 sats \ 0 replies \ @jack 23 Nov 2021 \ on: El Salvador to Issue $1B in Tokenized Bonds on the Liquid Network bitcoin
See the term sheet here
| Total Notional | US$1,000,000,000 |
| Coupon | 6.50% |
| Use of Funds | $500M infra, $500 BTC purchase |
| Duration | 10 years |
| Maturation | 2032 |
| Interest on notes | Payable annually in january |
| BTC lockup | 5 years |
| BTC investment distribution | 50% of btc investment proceeds returned to investors once initial $500M btc investment is recovered |
| Bookrunner / trading venue | Bitfinex Securities |
| Issuance Protocol | Liquid Network |
| Issuer | Republic of El Salvador |
| Funding Currencies | USD, USDT, BTC |
| Minimum subscription amount | $100 |
| Nominal Value | $100 (One unit of EBB1 is $100) |
| Citizenship by investment qualification | Investments >= $100k will qualify investors for citizen-by-investment applications after a five year term |