Ukraine raises $277 million from sale of ‘War Bonds‘
A war bond is a debt security issued by a government to finance military operations during times of war or conflict. Because war bonds offered a rate of return below the market rate, investment was achieved by making emotional appeals to patriotic citizens to lend the government money.
Although war bonds do not typically pay interest/coupon, they are sold at a discount that mature to face value giving some positive return. The war bonds are one of a number of crowdfunding measures by Ukraine to raise money for both its armed forces and civilians as the country faces down a vastly bigger military force.