issue at par

简明释义

按票面发行

英英释义

例句

1.When a firm issues at par, it means the securities are sold at their face value.

当公司以面值发行时，意味着证券以其面值出售。

2.The government plans to issue at par treasury bills to fund its new projects.

政府计划以面值发行国库券来资助其新项目。

3.The company decided to issue at par its new bonds to attract more investors.

公司决定以面值发行其新债券，以吸引更多投资者。

4.Investors prefer to buy stocks that issue at par during stable market conditions.

在稳定的市场条件下，投资者更喜欢购买以面值发行的股票。

5.Many companies choose to issue at par to simplify their capital structure.

许多公司选择以面值发行以简化其资本结构。

作文

In the world of finance and investment, understanding various terms is crucial for making informed decisions. One such term that often comes up in discussions about bonds and securities is issue at par. This phrase refers to the process of issuing a bond or security at its face value or nominal value. When a company or government issues a bond at par, it means that the bond will be sold to investors at the same price as its stated value, which is typically $1,000 for most corporate bonds. This concept is vital for both issuers and investors, as it affects the overall yield and attractiveness of the investment.When a bond is issued at par, it is generally considered to be a straightforward transaction. For example, if an investor purchases a bond with a face value of $1,000 at par, they will pay exactly that amount. The bond will then pay interest, known as the coupon rate, based on that face value. If the coupon rate is 5%, the investor will receive $50 annually until the bond matures. This predictability makes bonds issued at par appealing to conservative investors who prefer stable returns.However, the situation changes when bonds are issued at a premium or discount. A bond issued at a premium means it is sold for more than its face value, while a bond issued at a discount is sold for less. These variations can significantly impact the yield that investors receive. For instance, if a bond with a face value of $1,000 is sold at a premium for $1,100, the investor will receive the same $50 annually, but their effective yield will be lower because they paid more upfront. Conversely, if the bond is sold at a discount for $900, the investor still receives $50 annually, but their yield will be higher since they paid less for the bond initially.Understanding the implications of issue at par is essential for investors looking to build a balanced portfolio. It helps them assess the potential risks and rewards associated with different bonds. Additionally, knowing whether a bond is issued at par, premium, or discount can inform their investment strategy. For instance, if an investor believes interest rates will rise, they might prefer bonds issued at par to avoid the risk of price depreciation associated with premium bonds.Moreover, the concept of issue at par also plays a significant role in the broader context of monetary policy and economic conditions. Central banks often influence interest rates, which in turn affect how bonds are issued. For example, in a low-interest-rate environment, many bonds may be issued at par because investors are willing to accept lower yields in exchange for safety. Conversely, in a rising interest rate environment, more bonds may be issued at a discount as issuers try to attract buyers in a competitive market.In conclusion, the term issue at par is fundamental to understanding the bond market and the dynamics of investing in fixed-income securities. It denotes a straightforward transaction where bonds are sold at their face value, providing predictable returns for investors. By grasping this concept, investors can make more informed choices and better navigate the complexities of the financial landscape. Whether they are new to investing or seasoned professionals, recognizing the significance of issue at par will enhance their ability to manage risk and optimize their investment portfolios.

在金融和投资的世界中，理解各种术语对于做出明智的决策至关重要。其中一个常常在债券和证券讨论中出现的术语是按面值发行。这个短语指的是以其面值或名义价值发行债券或证券的过程。当公司或政府以面值发行债券时，这意味着债券将以其声明的价值出售给投资者，这通常是大多数公司债券的$1,000。这个概念对发行者和投资者都至关重要，因为它影响到投资的整体收益率和吸引力。当债券以面值发行时，通常被认为是一个简单的交易。例如，如果投资者以面值$1,000购买一只债券，他们将支付确切的金额。然后，该债券将根据该面值支付利息，称为票息率。如果票息率为5%，投资者将在债券到期之前每年收到$50。这种可预测性使得以面值发行的债券对保守型投资者具有吸引力，他们更喜欢稳定的回报。然而，当债券以溢价或折扣发行时，情况就会发生变化。以溢价发行的债券意味着它的售价高于其面值，而以折扣发行的债券则售价低于其面值。这些变化会显著影响投资者获得的收益。例如，如果一只面值为$1,000的债券以$1,100的溢价出售，投资者将每年获得相同的$50，但由于他们支付了更多，实际收益率会较低。相反，如果债券以$900的折扣出售，投资者仍然每年获得$50，但由于他们最初支付较少，收益率会更高。理解按面值发行的含义对于希望建立平衡投资组合的投资者至关重要。它帮助他们评估与不同债券相关的潜在风险和回报。此外，知道一只债券是以面值、溢价还是折扣发行可以为他们的投资策略提供信息。例如，如果投资者认为利率会上升，他们可能会更倾向于选择按面值发行的债券，以避免与溢价债券相关的价格贬值风险。此外，按面值发行的概念在货币政策和经济条件的更广泛背景中也发挥着重要作用。中央银行经常影响利率，这反过来又影响债券的发行。例如，在低利率环境下，许多债券可能以面值发行，因为投资者愿意接受较低的收益率以换取安全性。相反，在利率上升的环境中，更多的债券可能以折扣发行，因为发行者试图在竞争激烈的市场中吸引买家。总之，术语按面值发行是理解债券市场和固定收益证券投资动态的基础。它表示一种简单的交易，即债券以其面值出售，为投资者提供可预测的回报。通过掌握这一概念，投资者可以做出更明智的选择，更好地应对金融环境的复杂性。无论是新手投资者还是经验丰富的专业人士，认识到按面值发行的重要性将增强他们管理风险和优化投资组合的能力。