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Ottoman Loan 6% 1869
Single bond 500 Fr / £20 / 22 Gold Medjidie N°855,352, Ottoman Loan 6% 1869, Imperial Firman 15 Nov. 1869. 1,111,111 bonds, capital 555 million Fr. Paris/London/Constantinople. Bilingual.
The Ottoman Loan of 6% of 1869 is one of the most important loans contracted by the Ottoman Empire on European financial markets in the 19th century. Authorised by Imperial Firman of 15 November 1869, it covers 1,111,111 bonds of 500 Francs (or £20 or 22 Gold Medjidie), representing a total nominal capital of 555,500,000 Francs (or £22,222,020). The loan is divided into: 15,000 certificates of 25 bonds (N°1 to 375,000), 10,000 certificates of 5 bonds (N°375,001 to 425,000), and 530,111 individual bonds (N°425,001 to 1,111,111). This single bond N°855,352 belongs to the last category. The annual interest of 30 Francs (or £1 4s 2d) is payable in half-yearly instalments. Repayment over 30 years by semi-annual lottery drawings. To guarantee repayment, the Ottoman Government specifically pledges the revenues of the Aegean islands and the provinces of Aleppo and Adana, the province of Houdavindigar (Brousse, Kutaya), the province of Bosnia, the province of Aydin and Monastir, the Konak Tithes and the Revenues of Baghdad, totalling 60,400,000 Francs annually. The loan is redeemable at Paris (Comptoir d'Escompte), London (Comptoir d'Escompte Agency) and Constantinople (Société Générale de l'Empire Ottoman). Signed by the Delegate of the Loan Concessionaries. Printed by Imprimerie Centrale des Chemins de Fer and A. Thilly & Cie, rue Bergère 20, Paris. The Ottoman Empire would default on its debts in 1875–1876, making this loan a historical document of the Ottoman financial crisis.
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