One of the most famous perpetual bonds was the British Consols, first issued in 1751. They were traded for more than two hundred fifty years until they were fully redeemed in 2015—that is, the British government bought the bonds back and fully paid back the investors.
But there are some bonds issued way back in the 17th century that are still paying out interest. These bonds were issued by Hoogheemraadschap Lekdijk Bovendams, a Dutch water board responsible for managing dikes and canals in the lower Rhine region in the Netherlands. In 1648, the water board floated a perpetual bond to raise money for the construction of a series of piers to regulate the flow of a river and prevent erosion.
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