Tuesday, May 2, 2017

Millenium Bonds and Edmond Safra

Safra Republic Holding SA issued a 1,000 year bond in 1997.

CHICAGO, Oct. 8 [1997] /PRNewswire/ -- Duff Phelps Credit Rating Co. (DCR) has
 rated the $250 million subordinated notes of Safra Republic Holdings S.A.
 (Safra Republic) 'AA' (Double-A).  These notes are due October 15, 2997, have
 a coupon of 7.125 percent and were priced at 99.161 for a yield to maturity of
 7.185 percent.
http://www.prnewswire.com/news-releases/duff--phelps-credit-rating-co-rates-safra-republics-1000-year-bonds-aa-77468667.html

Safra Republic Holdings announced that in October it will issue $250 million of millennium bonds that mature in 2997.  Safra Republic Holdings SA (SRH) $250 million issue of 7.125% subordinated debentures, due October 15, 2997, is rated 'AA-' by Fitch.
http://www.chegg.com/homework-help/financial-reporting-and-analysis-5th-edition-chapter-11-solutions-9780078110863

In 1999, Edmond Safra was murdered.  Billionaire banker Edmond Safra was killed early Friday [December 3, 1999] when fire engulfed his Monte Carlo home, following an attack by two hooded men, according to Monaco's official press office.
http://money.cnn.com/1999/12/03/worldbiz/safra/

See also "The strange case of Edmond Safra".
Billionaire Safra key to HSBC Swiss bank origins

How bizarre.  But I still want to know about the millenium bonds.  Were they bought out by HSBC, or are they still outstanding?  If so, who owns them?

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