uncallable bond

简明释义

不能提前收回的公司债

英英释义

例句

1.Investors often prefer an uncallable bond because it provides a stable income without the risk of early redemption.

投资者通常更喜欢不可赎回债券，因为它提供了稳定的收入而没有提前赎回的风险。

2.Many pension funds invest in uncallable bonds to ensure long-term cash flow.

许多养老基金投资于不可赎回债券以确保长期现金流。

3.The main advantage of an uncallable bond is that it protects investors from interest rate fluctuations.

不可赎回债券的主要优势在于它保护投资者免受利率波动的影响。

4.When interest rates fall, holders of uncallable bonds benefit from their higher fixed rates.

当利率下降时，持有不可赎回债券的投资者将从其较高的固定利率中受益。

5.The uncallable bond issued by the government offers a fixed interest rate for its entire term.

政府发行的不可赎回债券在整个期限内提供固定的利率。

作文

In the world of finance, investors are constantly seeking ways to maximize their returns while managing risk. One investment vehicle that has gained significant attention over the years is the bond market. Within this market, there exists a specific type of bond known as an uncallable bond, which offers unique advantages and considerations for investors. Understanding what an uncallable bond is can help investors make informed decisions about their portfolios.An uncallable bond is a type of bond that cannot be redeemed or 'called' by the issuer before its maturity date. This means that once an investor purchases an uncallable bond, they are guaranteed to receive interest payments until the bond matures, at which point they will receive their principal investment back. The primary advantage of an uncallable bond is the predictability it offers. Investors can rely on a steady stream of income without the worry that the issuer might call the bond and force them to reinvest at potentially lower interest rates.One of the key reasons issuers might choose to offer uncallable bonds is to attract investors who prefer stability and long-term commitments. For example, when interest rates are low, issuers may prefer to lock in financing costs by issuing uncallable bonds. This way, they can avoid the risk of having to refinance at higher rates if they were to call the bonds early. Investors, in turn, are often willing to accept lower yields on these bonds in exchange for the security they provide.However, investing in uncallable bonds is not without its drawbacks. One major concern is that if interest rates rise significantly after the bond is issued, the investor is stuck receiving the lower fixed interest payments until maturity. Unlike callable bonds, which allow investors to benefit from rising rates through the potential for early redemption, uncallable bonds limit this flexibility. Therefore, investors need to carefully assess the interest rate environment before committing to such investments.Another consideration is the creditworthiness of the issuer. Since uncallable bonds typically have longer maturities, changes in the issuer's financial health can impact the bond's value over time. If an issuer faces financial difficulties, the market value of their uncallable bonds may decline, leading to potential losses for investors who wish to sell before maturity. Thus, conducting thorough research on the issuer's credit rating and overall stability is crucial when considering these bonds.In conclusion, uncallable bonds serve as an important tool for both issuers and investors in the bond market. They provide a reliable source of income and predictability for investors, making them an attractive option for those seeking stability. However, potential downsides such as interest rate risk and credit risk must also be taken into account. By understanding the nature of uncallable bonds and their implications, investors can better navigate the complexities of the bond market and make choices that align with their financial goals.

在金融世界中，投资者不断寻求通过管理风险来最大化回报。一种在过去几年中引起显著关注的投资工具是债券市场。在这个市场中，有一种特定类型的债券被称为不可赎回债券，它为投资者提供了独特的优势和考虑因素。理解不可赎回债券的含义可以帮助投资者做出明智的投资组合决策。不可赎回债券是一种在到期日前不能被发行人赎回或“召回”的债券。这意味着，一旦投资者购买了不可赎回债券，他们就可以保证在债券到期之前收到利息支付，并在到期时收回本金投资。不可赎回债券的主要优势在于它所提供的可预测性。投资者可以依赖稳定的收入来源，而不必担心发行人可能会提前赎回债券，迫使他们以潜在较低的利率进行再投资。发行人选择提供不可赎回债券的一个关键原因是吸引那些偏好稳定性和长期承诺的投资者。例如，当利率较低时，发行人可能希望通过发行不可赎回债券来锁定融资成本。这样，他们就能避免在提前赎回债券时面临必须以更高利率进行再融资的风险。反过来，投资者通常愿意接受这些债券的较低收益，以换取它们所提供的安全性。然而，投资不可赎回债券并非没有缺点。一个主要问题是，如果在债券发行后利率大幅上升，投资者将被迫接受固定的较低利息支付，直到到期。与可赎回债券不同，可赎回债券允许投资者通过提前赎回来受益于上升的利率，而不可赎回债券则限制了这种灵活性。因此，投资者在承诺此类投资之前需要仔细评估利率环境。另一个考虑因素是发行人的信用状况。由于不可赎回债券通常具有较长的到期时间，发行人财务健康状况的变化可能会影响债券的价值。如果发行人面临财务困难，其不可赎回债券的市场价值可能会下降，导致希望在到期前出售的投资者遭受潜在损失。因此，在考虑这些债券时，对发行人的信用评级和整体稳定性进行深入研究至关重要。总之，不可赎回债券在债券市场中为发行人和投资者提供了重要的工具。它们为投资者提供了可靠的收入来源和可预测性，使其成为寻求稳定性的投资者的有吸引力的选择。然而，利率风险和信用风险等潜在缺点也必须考虑在内。通过理解不可赎回债券的性质及其影响，投资者可以更好地驾驭债券市场的复杂性，并做出符合其财务目标的选择。