Advanced Theory & Practice of Bonds

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1-2 December 2021

Two-day immersive course on bonds designed for private bankers and advisors. 90% funding* available to eligible company-sponsored candidates.

El Salvador is a planning a debut public tokenized dollar denominated bond issuance next year, called “Volcano Bonds.” The issuance would comprise of $1bn of 10Y dollar bonds yielding 6.5% via the Liquid Network, a sidechain-based settlement network for traders and exchanges. Half of the proceeds will be converted into Bitcoin and the other half to build Bitcoin mines powered by geothermal energy and Infrastructure for El Salavador’s new “Bitcoin City.” The bonds carry a lock-up period of 5Y post which $500mn in Bitcoin will be taken out of the market and additional dividends would be paid to investors. According to Blockstream, the annual yield could increase to 146% by the end of the 10th year due to Bitcoin’s projected appreciation where they expect Bitcoin to touch $1mn in the next five years, with further details missing. Investors of the bonds will be granted with permanent residence and be fast-tracked to citizenship. Chief strategy officer of Blockstream, Samson Mow said, “The plans will make El Salvador the financial center of the world and the Singapore of Latin America. The first countries that do this will have a massive advantage. This is the beginning of the nation state Bitcoin FOMO.”

El Salvador’s USD bonds were slightly up with its 5.875% 2025s up 0.43 to 74.75, yielding 16.34%

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