April 2019
Intermediate to advanced
426 pages
11h 13m
English
Content preview from Mastering Python for Finance - Second Edition
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Callable bonds
In an economic condition where there are high interest rates, bond issuers are likely at risk of facing an interest-rate decrease and having to continue to issue higher-interest payments than the prevailing interest rate. As such, they may choose to issue callable bonds. A callable bond contains an embedded agreement to redeem the bond at agreed dates. Existing bond holders are considered to have sold a call option to the bond issuer.
In the event that interest rates fall and the corporation has the right to exercise the option to buy back the bond during that period at a specific price, they may choose to do so. The company can then issue new bonds at lower interest rates. This also means that the company is able to raise ...
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I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.