They will receive a 12 per cent return, or coupon payment, paid in arrears by Redquartz every quarter, the document states. The private bond is not regulated by the Central Bank of Ireland. These “stable, State-backed dividends” are “valued at €8 million” in total up to 2029, Redquartz told investors and will finance the investors’ exit from the bond after 24 months. The contracts are due to commence in 2026, according to the information Redquartz has provided investors. Mr Kelly said the bond is a way for Redquartz to raise money to “capitalise” its projects.
