Pub issues own bonds to raise cash

The Brewery Tap in Ipswich will sell the bonds to customers who will get a 10% discount on food and drink in return, writes the BBC. Mike Keen, landlord, said he had failed to secure lending from banks. He hopes to raise £20,000 and claimed he would start repaying bond holders their £500 from June 2012. The pub said the bonds were effectively loans made to them by customers, who would get a financial return in the form of the 10% discount rather than as interest.