Ranked lists of largest ever MD bond offerings

These lists of Market Discussions projects were transferred over from the old forum. And not just copied, since there are some exorbitant current adventures that seem to just grow each time we blink our eyes.

Please point out any that I have missed, or errors.

Straight up unsecured MD bonds and loans over 100 bn

  1. 1,000 bn ISK: Elizabeth Norn big bond (2017). Running, half paid out.
  2. 315 bn ISK: Fannie Anathema loans. (2017). Running.
  3. 300 bn ISK: Proton Power. (2016b). Succesful.
  4. 260 bn ISK: Fannie Anathema Market Fund (2017b). Succesful.
  5. 250 bn ISK: Jeronica EVE Mogul Investment Fund. (2017-2018). Running.
  6. 200 bn ISK: Cor’El Dahken IPO. (2017). Went missing.
  7. 187 bn ISK: IChooseYou Investment Fund. (2017-2018). Running.
  8. 174 bn ISK: One Stop Research IPO (2008-2009). LadyOfWrath. Succesful.
  9. 150 bn ISK: Fannie Anthema Station Trading Fund (2017a). Succesful.
  10. 100 bn ISK: TornSoul BMBE bond #5. (2010). Succesful.
    100 bn ISK: Elizabeth Norn #1-3. (2015a, b, 2016). Succesful.
    100 bn ISK: Proton Power. (2016a). Succesful.

Bonds and projects secured by Chribba or Grendell (over 300 bn)

  1. 1,500 bn ISK: Grendell’s own bank GISK. (2012-2014). Grendell at one point mentioned he has a deposit cap of 1.5 T and he is reaching it. The bank closed succesfully. At the same time, Grendell also ran his usual trickle of large bonds that he secured for other parties. Therefore at one point Grendell surely must have held well over 2 T but it is hard to reconstruct exactly.
  2. 1,200 bn ISK: Angelica Everstar AE08. (2015). Secured by Chribba.
  3. 1,000 bn ISK: Angelica Everstar AE07. (2015). Secured by Chribba.
    1,000 bn ISK: Angelica Everstar AE09. (2015-2016). Secured by Chribba.
  4. 530 bn ISK: Zahara Cody (2016). Secured by Grendell.
  5. 500 bn ISK: Angelica Everstar AE06/PFA05. (2014). Secured by Chribba.
  6. 450 bn ISK: Niraia (GMTB#4). (2012). Secured by Grendell.
  7. 350 bn ISK: GLTB#1 (2011-2013). Secured by Grendell.
  8. 300 bn ISK: X ATM092. (2015). Secured by Chribba

Multi-personnel projects / various (over 300 bn)

  1. c. 2,300(?) bn ISK: Ebank. (2007-2009). EBank was the brainchild of chairman Hexxx, with Amarr Citizen 155 and Lavista Vista being among the other people involved. It is unclear how much ISK was held by any one person at any given time. Ebank went under a bit after CEO Ricdic ran off with around 200 bn ISK.
  2. 1,000 bn ISK. SCC-Mutual Fund. (2017-2018). Investment project launched from the SCC-Lounge and with Caleb Ayrania as the financially responsible. Running.
  3. 850 bn ISK: Titans4You. (2009-2010). Investment into copying and sale of titan BPOs. Despite the Titan BPOs being held down within a special board of trustees, Bad Bobby tricked them and ran off with all the ISK.
  4. 790 bn ISK: EVE Investment Bank. (2005-2006). 790 bn ISK was what EIB director Cally claimed to have walked off with.
  5. 700 bn ISK: The BSAC Exchange (2006-2013). When this resource exchange was at its peak, Block Ukx held approximately this amount. Succesful.
  6. 450 bn ISK. Probag Bear collateralised loan of 450 bn. (2017-2018). Collateral held by E. Norn and Noobs Market Orders (investor). Running.
  7. 400 bn ISK. Probag Bear secured loan of 350 bn + apparently 50 bn simultaneous unsecured loan. (2017). Secured by RAW23. Succesful.
  8. c.300 bn ISK. Dynasty Banking. (2008-2009). This bank received received upwards of 300 bn(?) ISK in investments, but went under when Xabier ran off with around 85 bn.
  9. ??? (ceiling of 500) bn ISK: The second ISS IPO (2006-2007). It is unclear how much money ISS got before their operations were shot to pieces…

Worth mentioning is the PhaserInc scam in 2011, which claimed having been for over 1 trillion ISK, but was not housed on the MD forum. And there is the Halaima IPO which I believe is more a donation scheme…
Also worth mentioning that in his third party business on the WTS forum, Chribba has held other single ships and/or BPOs worth over 1 trillion ISK.

Finally, it is worth remembering that the most famous IPO in EVE history, the ISS Marginis in 2005, was for just 40 bn ISK altogether.


Awesome history. Thank you for sharing.


Great to see the history still being documented. Minor quibble:

Not sure why this is listed under multi-personnel / opaque offerings. As far as I’m aware the quite separate unsecured bond didn’t fill and this was just a straight-forward secured loan.

Oh that’s just my random setup of categories. I put Chribba/Grendell in a league of their own. I am changing the title of the last category now to multipersonel/various.
On 9th of July someone said they had sent the 50 bn to Probag Bear - but that was not so?

Would you be able to add the EVE-Mogul investments?

150b IPO for Mogul Mineral Reserve

Ah, I saw that but assumed it was an ‘I pledge 50bil’ type post. I didn’t look further into it as it was distinct from the secured offering.

That was indeed me who loaned Probag the 50b unsecured.

Great Thread!

Wow that was brave :slight_smile:

The eve-mogul MMR has increased from 150->250bil. I anticipate expanding a bit further once moon mining has been changed and the markets stabilize to handle raw moon goo.

Updated with Jeronica, Cor’El Dahken, and apparently succesful closure of Fannie Anathema 2017b.

It is amazing the amounts that are supporting uncollateralised loans these days.

Nice post Cista2.
Might be worth mentioning EMFI and AATP. EMFI was a mutual fund of active bonds and stocks while AATP was a T2 production that was popular with investors.

Best Regards,

How big were all of your funds at their peak if you don’t mind me asking… I believe yours was one of the first ones I invested in.

That was sometime ago. I think it was around 700 B at its peak; including my funds and other funds in the Stock Exchange.

Yeah I think this needs updating…

Hey, I paid it back!

Never said you didn’t :smile:

Just saying giving out 50Bn uncollateralised is a brave thing to do.

You missed One Stop Research IPO closed after a year for 174b, audited at close by Grendell in 2009. At the time of closure was the most successful IPO when ended in full payouts to shareholders. A rather old one, but still the shining beacon of IPOs.

So! Updated with some of the generous new information.