The CBC has a funny story about how British confectioner Hotel Chocolat hopes to raise the equivalent of $7.3 million by issuing bonds in which the payments are made not in money but in chocolate.
The U.K. chocolatier is taking advantage of low interest rates to fund its expansion plans. Under the scheme, 100,000 of its Tasting Club members — who already pay for home deliveries — will be offered the opportunity to put up between 2,000 and 4,000 British pounds ($3,000 and $6,000 Cdn) for a three-year "chocolate bond." The less expensive bond earns the buyer a delivery of 18 pounds ($27 Cdn) worth of chocolate every two months, the equivalent of a 6.72 per cent yield. A larger investment earns 7.29 per cent, because the same shipment will come monthly.
I look forward to reading their candy-coated prospectus.
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