本文发表在 rolia.net 枫下论坛Long Term Debt

- promise to pay interest (coupon) & repay principal

Terms par - face value - amount paid at maturity - base of $100
discount - price below $100, premium - price above $100
denomination - face value, $1,000, $10,000 or larger
term to maturity - remaining life of bond
liquid - good trading volume
negotiable - in deliverable form
marketable - ready market

Trustee - represents interests of bondholder
- ensures that interest paid, protective covenants maintained, take action if not
- administer sinking fund provisions

Trust Deed - sets forth all protective covenants (restrictions) and requirements of the bond issue
- protective covenants - to safeguard bondholder

Government Bonds
 Marketable - fed gov't is largest issuer in Cdn bond market - mostly non-callable
- introduce Real Return Bonds in '91 - interest & prin repayment based on inflated value of original principal
 CSB - cash at bank any time - no secondary market - only purchased by Cdns
- maximum purchase limits - must be registered
- regular interest & compound interest
- Canada Premium Bond
 Tbills - short term gov't note - most significant money market instrument
- sold at discount & mature at par - difference is taxable as interest income
- sold in auction by BOC - purchased by large institutions & resold to clients in smaller denominations
 Provincial - borrow extensively in foreign markets - also issue Tbills & Provincial Savings Bonds
- bond quality factors -

 Municipal - usually using serial bonds
- credit quality factors -更多精彩文章及讨论，请光临枫下论坛 rolia.net