We are seeing good interest in LOBREC bonds! They do make great sense for people who are interested in being a member of LOBREC and who are 18 years of age and over.
First of all here are the essential components of the first issue of LOBREC bonds:
- The principal sum for each Bond is $500.00
- The term of each Bond is 10 years
- The interest payable annually on the settlement date is 3.5%. (In year 1 interest on the Bond will accrue and be paid along with the payment due in year 2)
- The settlement date for this series is still to be decided but is likely to be in May, 2014
LOBREC’s bylaws require that only members are able to hold a bond and members must be resident Canadians who are 18 years of age and older. LOBREC members can purchase any number of bonds and there is no restriction on the total amount of bonds any member may own.