(MENAFN- PR Newswire)
SCOTTSDALE, Ariz., Sept. 11, 2024 /PRNewswire/ --
Monetary Metals®, a leader in innovative gold-based financial solutions, is pleased to announce the completion of a Gold bond sale totaling 4,774 ounces of gold, approximately $12 million USD. This gold bond marks a historic achievement as the first instance of a non-mining company raising gold-denominated debt since 1933.
The bond has a 3-year term and offers investors an annual interest rate of 6%, paid in physical gold. The funds will be used to grow the Monetary Metals' Gold Yield Marketplace® platform.
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The bond has a 3-year term and offers investors an annual interest rate of 6%, paid in physical gold. The funds will be used to grow the Monetary Metals' Gold Yield Marketplace® platform.
Keith Weiner, Founder and CEO of Monetary Metals, emphasized the significance of this milestone:
"This bond represents a historic turning point in the financial world. By raising debt denominated in gold, we are showing that businesses can harness gold's unparalleled value, stability, and productivity. Investors want to grow their wealth with gold, not just preserve it."
Monetary Metals has paid interest on gold and silver through its leasing and bond program for over eight years. This gold bond issuance is a continuation of the company's mission to offer innovative financial solutions underpinned by the timeless value of gold.
"This bond is not only a critical step in our own company's growth, but a clear example of how gold-denominated financing can work in the modern era." "We're proud to be the first non-mining company in nearly a century to make this happen," Weiner added.
The bond's appeal is clear-investors receive 6% annual interest in the form of physical gold, allowing them to increase their gold holdings while supporting the growth of a forward-thinking company they trust. The company originally sought 2,000 ounces but ended up raising over 4,700 ounces. The strong demand for this bond demonstrates the market's appetite for gold-denominated investment products, particularly in times of global economic uncertainty. Investors in the bond included HNW, and UHNW individuals as well as Family Offices.
About Monetary Metals
Monetary Metals® is Unlocking the Productivity of GoldTM by offering a Yield on Gold, Paid in Gold® to investors, and Gold Financing, SimplifiedTM to gold-using businesses (mints, miners, refiners, jewelers, etc.). The company brings both sides together in its Gold Yield Marketplace® a platform where everyone can save, earn, and finance production in gold.
For more information, go to
Contact:
Dickson Buchanan Jr.
Vice President Marketing
[email protected]
646-653-9729
For additional information or press inquiries, please contact [email protected]
SOURCE Monetary Metals & Co.
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