The Yale University receives the interest of the world's oldest "indebted bond" issued in 1648 in 2015

Governmental organizations in the country and region to do businessPublic bondAlthough it is common to issue funds to raise funds, this bond has a period of indefinite "Perpetual bondThere seems to be something that is said. It is clear that a certain public bond issued in 1648 in the Netherlands is this "perpetual bond" and Yale University in the United States, which owns bonds, actually asked for interest payment in 2015 when about 370 years passed since issue It is becoming.

YaleNews | A living artifact from the Dutch Golden Age: Yale's 367-year-old water bond still pays interest
http://news.yale.edu/2015/09/22/living-artifact-dutch-golden-age-yale-s-367-year-old-water-bond-still-pays-interest

Yale to Be Paid Interest on Dutch Water Authority Bond From 1648 - Bloomberg Business
http://www.bloomberg.com/news/articles/2015-09-16/yale-to-be-paid-interest-on-dutch-water-authority-bond-from-1648

This perpetual bond "Lekdijk Bovendams" is one of the bonds documents that existed only five in the world, out of the public bonds issued in 1648 by the Dutch water management agency "Hoogheemraadschap De Stichtse Rijnlanden". This bond has historically important meaning as it was issued in the early stages of the formation of a modern economic structure. It is surprising that the document is written on the skin of a goat (goat), and it is hardly seen that it deteriorated almost 350 years after its creation.


The face value of the bond is said to be "1000 Guilders".GuilderIs the currency unit used in the Netherlands from the 15th century to 2003, converting it to the final rate set when changing to the euro, the face value of the bond is equivalent to 453.78 euros (about 61 thousand yen).

Detailed images of bonds can be confirmed / downloaded at the Yale University website below.

Lekdijk Bovendams [water board bond]


Yale University was able to receive 136.20 euro (about 18,800 yen) as the interest of this bond, he said he actually contacted the water management agency and made a request. Institutional spokesperson Clarion Wegerif has confirmed that there was contact from the university. When paying interest, after the dummy memorial checks are presented, it is supposed to remit the actual money by wire and it seems that remittance was made on September 21, 2015.

Nederlandse obligatie uit 1648 levert rente op - rtlz.nl
http://www.rtlz.nl/business/bedrijven/nederlandse-obligatie-uit-1648-levert-rente-op

Yale University has purchased this bond at 24,000 euros (at the rate of about 3.1 million yen at that time) in 2003, and the interest from the time of purchase to 2015 is 0.6% in 13 years . Although there are parts where the face value and interest calculation do not intermingle slightly, in the following documents which seems to have described the details of the payment, we can know the situation that processing was stopped last in 2003. In addition, it was Yale University who got bonds in the same year that received payment for 26 years in 2003, so this request will be the second time.


Operate a large amount of fundHave total assets of 1 trillion yen or moreFor Yale University, which seems to be seen, it seems that this request was an action to confirm that the permanent bond is still valid even though it is not simply to earn a profit. In the year 1648, the fund raised to 300 thousand guilders collected by this public bond was used to build a leve of the River River flowing in the Netherlands.

The bond "Lekdijk Bovendams" seems to have been exhibited at "Christie's" in the global auction house in the UK. There seems to be a chance to get the bonds actually and to throw themselves into the flow of hundreds of years.

[FINANCIAL HISTORY, STOCKS AND BONDS]. LEKDIJK BOVENDAMS. Document signed by an official ("A. Boote") of the Polder Committee of the Lekdijk Bovendams, CONSTITUTING A BOND FOR 1200 GUILDERS, issued to Catharina Jans' daughter, certifying payment of Annual interest, tax-free, to the purchaser and subsequent bond-holders. [Utrecht, Netherlands], 1 May 1634. | Christie's