Serbian National
2009
Serbian National
Who would lend against Serbian bearer bonds?
The bonds were issued from the National Bank of Serbia. The bonds have fully matured and have an accumulated face value of $3.5M. There are 4 bonds that would be used as collateral. Are there any private investors who would verify the bonds and then lend against them?
We currently do not want to cash the bonds in that we do not want to suffer the tax impact of doing so.
Instead we want to obtain a series of loans utilizing the bonds as collateral. Over time we may choose to cash the bonds a few at a time and therefore control the tax impact we will
experience in doing so.
We do not want to take a 40% hit tax hit; we want to manage their tax implications. If we could trade the bonds in to a financial institution with little to no tax, we would do it.
Usually a commercial bank will hold the bearer bonds as collateral. They will most likely request holding onto the physical bonds so you must be very careful to trust whoever takes possession of these bonds as the name indicates they are payable to the bearer.
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