El Salvador intends to complete the preparations to issue its first $1 billion in Bitcoin bonds between March 15 and 20.
As reported by the country's finance minister, Alejandro Zelaya, the oversubscription of securities will amount to "at least $500 million."
According to the official, the minimum purchase of $100 and the absence of a broker during the placement will broaden the pool of potential investors.
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The coupon rate will reportedly be 6.5% per annum, while the bonds will mature in 2032.
Investors interested in purchasing the bonds will first have to complete a KYC verification.
The issuance of the bonds will take place on Blockstream's sidechain Liquid Network.