Just to correct your last point, UK 30-year gilts are currently trading around 2.6% yield, so perpetual bonds should pay at least that. And indeed, according t

Just to correct your last point, UK 30-year gilts are currently trading around 2.6% yield, so perpetual bonds should pay at least that. And indeed, according to this page, they pay around 3.7%. They don't seeem to trade very often. https://www.fixedincomeinvestor.co.uk/x/bondtable.html?groupid=3 https://www.fixedincomeinvestor.co.uk/x/bondtable.html?group...