Due to the frail economic environment along with the increasing global uncertainty and negative interest rates, a growing number of investors have turned to buying precious metals and require a safe place to store them. Many banks have chosen to stop providing this service.
The safety deposit boxes currently rented out by local banks and precious metal dealers are small in size and nature, as well as being subjective to restrictive access times. Despite this, they are very popular, meaning that many of the providers have waiting lists.
The LUXBURG CAROLATH HOLDING AG with headquarters on Knonau Castle, Switzerland, issued the EUR 100,000,000.- (one hundred million) LUXBURG CAROLATH BANK BOND on August, 3rd 2018. The use of proceeds of the bond is mainly the investment into Luxburg Carolath Bank Fund and Luxburg Carolath Security House Fund.
The entire premises of the planned security centre will be designed and constructed in line with cutting-edge security standards. The building has been designed to cover several storeys in accordance with the logistics and security concept and contains all the necessary components to ensure optimum operational running. The plan has been to design, construct and operate a building in line with its primary function, notably to serve as a security centre which meets the standards of modern architecture as well as low energy consumption levels and high levels of economic efficiency.
The bond’s interest is 2.9% with a semi-annual payment in arrears in February and August of each year, commencing on 3rd of February 2019 (actual/actual (ICMA)).
With a denomination of EUR 10,000.- (ten thousand) the LUXBURG BANK BOND offers a flexible investment scale for a grand variety of investment purposes. The bonds are on offer since August, 3rd until full placement. The Bonds are wholly represented by a variable global note deposited with SIX SIS AG, Switzerland.
By Andre Nause
