Income is paid to bondholders in the form of lottery winnings. The bonds currently in circulation are 3 percent lottery bonds, issued for a 20-year term in 1966. The bond embodies a special form of obligation under civil law, one by which the state is the debtor and the citizen placing money at the disposal of the state is the creditor. In the USSR, the right to issue bonds for domestic borrowing belongs solely to the state. The entity issuing the bond assumes the obligation to redeem it over a prescribed period of time by paying income to the bearer of the bond, either through winnings allocated in special lottery drawings or through the reimbursement of coupons.
Nichols, The Personal Investor's Complete Book of Bonds (1988).Ī security that conveys to its bearer the right to income computed at a fixed percentage rate.
Schrager, Junk Bonds and Tender Offer Financing (1987) D. Rabinowitz, Municipal Bond Finance and Administration (1969) H. Atkinson, Trends in Corporate Bond Quality (1967) A. Jones, Bonds and Bond Securities (4th ed., 4 vol., 1935–50) T. Junk bonds have increasingly been used to help finance the purchase of companies, especially in leveraged buyouts. A junk bond has a risky credit rating because it is issued by companies without an established earnings history or with a questionable credit history. Bonds are usually bought by those wishing conservative investment.
MASONRY STACK BOND VS RUNNING BOND FULL
Government bonds are backed by the full faith and credit of the government issuing them, including its taxing power, and sometimes also by specifically designated security. government to finance both World Wars and are still an important money-raising device.
MASONRY STACK BOND VS RUNNING BOND SERIAL
In the case of serial bonds, part of the issue is called in and paid for in full each year. The entire bond issue, most of which the firm has already acquired, is then retired on maturity. One method used to retire bonds is the sinking fund in such a case the issuing body buys back some of its bonds each year and holds them itself, applying the interest to the fund. Some bonds are convertible upon maturity into the stock of the issuing company. Security is usually pledged against a bond unsecured bonds are regarded as a long-term obligation on the capital of the issuing body. It bears interest and promises to pay a certain sum of money to the holder after a definite period, usually 10 to 20 years. Bond, in finance, usually a formal certificate of indebtedness issued in writing by governments or business corporations in return for loans.
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