[ad_1] PRESS RELEASE 31st October, 2023 (Tuesday), Utah, United States of America - SPARCO BANK have issued a private placement €50 Billion (EUR Fifty Billion) Series I GIobal Indigenous Sovereign Medium-Term Bonds (GISB) with annual coupons. The 10 years bond is currently fully subscribed and is callable upon maturity. The yield is paid annually with a fixed coupon rate of 3%. The GISB is issued in collaboration with Sparco Bank as a groundbreaking initiative that addresses the socio-economic challenges faced by indigenous populations and 3rd world governments across the world. Such a bond would essentially be a debt instrument issued on behalf of indigenous populations globally, with the aim to raise capital for various development projects and government social initiatives. Sparco Bank hopes that the current framework to set up and will issue further series of GISB Bonds to pave the way for more projects of similar proposition in the future. Sparco Bank spokesperson said that “The success of the undertaking, reflecting the desire of indigenous global communities, is a tangible confirmation of the growing desire of these communities to participate in sustaining global economies”. The indigenous communities represents a minority group of population in most countries but are getting more affluent in wealth creation, and their intentions to share their wealth is a sign of their hope to build a sustainable society for all. INVESTOR RELATION – support@sparcobank.com