By Yasmine EDDAM
23 April 2025
Less well known than the traditional bank loan or share issue, the savings bond is nevertheless a financial instrument that can be relevant both for companies seeking to diversify their sources of financing and for savers looking for investments. This instrument, which is governed by specific rules, deserves particular attention. But what exactly are savings bonds? Since a reform in 2016, it is a security that must be registered (issued in the name of a designated person) and cannot be traded on a market. In practical terms, it represents a commitment by a retailer (the issuer) to repay a sum of money on a specific date, which has been lent to them by the holder of the voucher. It is therefore the consideration for a loan transaction. To fully understand how it works and what it is used for, we need to look at its sometimes controversial legal nature, the conditions under which it is issued and circulated, and...
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