January 2017
Beginner
500 pages
147h 53m
English
book
Financial Management: Principles and Applications, 13/e
by Sheridan Titman, Arthur J. Keown, John D. Martin
Content preview from Financial Management: Principles and Applications, 13/e
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9.4 Types of Bonds
Table 9.7 contains a list of the major types of corporate bonds. In all cases, these are long-term (longer than one year) debt securities that are sold in the public financial market. The differences among the various types of bonds are a function of how each of the following bond attributes is defined:
| Secured versus unsecured | Coupon level |
| Priority of claims | Amortizing or non-amortizing |
| Initial offering market | Convertibility |
| Abnormal risk |
Let’s take a look at each of these basic bond attributes so that we can better understand the differences in various types of bonds.
Secured Versus Unsecured
A basic distinction between types of bonds is whether or not the bond issue is secured by collateral. A secured bond
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