noncallable bond

简明释义

到期偿还债务

英英释义

例句

1.The company issued a noncallable bond 不可赎回债券 to raise funds for its new project without the risk of early redemption.

该公司发行了一种不可赎回债券以为其新项目筹集资金，而无需担心提前赎回的风险。

2.A noncallable bond 不可赎回债券 typically offers a higher yield than callable bonds to compensate for the lack of call option.

与可赎回债券相比，不可赎回债券通常提供更高的收益率，以补偿缺乏赎回选项。

3.Investors often prefer a noncallable bond 不可赎回债券 because it provides more predictable cash flows.

投资者通常更喜欢不可赎回债券，因为它提供了更可预测的现金流。

4.The noncallable bond 不可赎回债券 issued by the government has a maturity of 10 years.

政府发行的不可赎回债券的到期时间为10年。

5.During times of rising interest rates, investors may favor a noncallable bond 不可赎回债券 to avoid the risk of losing their investment.

在利率上升时期，投资者可能会更青睐不可赎回债券，以避免失去投资的风险。

作文

In the world of finance, investors are often faced with a variety of options when it comes to bonds. One particular type of bond that has gained attention is the noncallable bond. A noncallable bond is a type of bond that cannot be redeemed by the issuer before its maturity date. This feature offers certain advantages and disadvantages for both issuers and investors. Understanding the implications of investing in noncallable bonds can help individuals make informed decisions regarding their investment portfolios.To begin with, let’s explore the benefits of noncallable bonds. For investors, one significant advantage is the predictability of cash flows. Since these bonds cannot be called away before maturity, investors can rely on receiving interest payments for the entire duration of the bond. This certainty is particularly appealing in a fluctuating interest rate environment. If interest rates rise, issuers of callable bonds may choose to redeem their bonds early to reissue new ones at higher rates. However, with noncallable bonds, investors do not have to worry about this scenario, allowing for better financial planning.Additionally, noncallable bonds typically offer higher yields compared to their callable counterparts. This is because investors demand a premium for the lack of call protection. The higher yield compensates them for the risk of holding a bond that cannot be called if interest rates drop. Therefore, for those looking for a steady income stream, noncallable bonds can be an attractive option.On the other hand, there are also drawbacks associated with noncallable bonds. The primary disadvantage is that investors may miss out on potential capital gains if interest rates decline. In such cases, the market value of existing bonds increases, but since noncallable bonds cannot be refinanced, investors are stuck with their original lower-yielding bonds. This situation can lead to a loss of opportunity, as investors might prefer to reinvest in new bonds with higher yields.Moreover, noncallable bonds can sometimes carry more credit risk. If an issuer faces financial difficulties, the inability to call the bonds may mean that investors have to hold onto a bond that is underperforming or even facing default risks. Therefore, thorough research into the issuer's creditworthiness is essential before investing in noncallable bonds.In conclusion, noncallable bonds represent a unique investment opportunity within the bond market. They provide investors with predictable cash flows and typically higher yields, making them appealing for those seeking stability in their investments. However, the lack of call protection can also pose risks, especially in changing interest rate environments. As with any investment, understanding the characteristics of noncallable bonds and assessing one's financial goals and risk tolerance is crucial. By doing so, investors can effectively incorporate noncallable bonds into their overall investment strategy, balancing the benefits and risks to achieve their desired financial outcomes.

在金融世界中，投资者在债券方面面临多种选择。其中一种引起关注的债券类型是不可赎回债券。不可赎回债券是一种在到期日前不能被发行人赎回的债券。这一特性为发行人和投资者提供了某些优缺点。理解投资不可赎回债券的影响可以帮助个人在其投资组合中做出明智的决策。首先，让我们探讨一下不可赎回债券的好处。对于投资者来说，一个显著的优势是现金流的可预测性。由于这些债券在到期前无法被赎回，投资者可以依赖于在整个债券期限内收到利息支付。这种确定性在波动的利率环境中特别吸引人。如果利率上升，发行可赎回债券的公司可能会选择提前赎回其债券，以更高的利率重新发行新债券。然而，对于不可赎回债券，投资者不必担心这种情况，从而允许他们进行更好的财务规划。此外，不可赎回债券通常提供比其可赎回的同类债券更高的收益率。这是因为投资者要求为缺乏赎回保护而支付的溢价。更高的收益率补偿了他们持有无法被赎回的债券的风险。因此，对于那些寻求稳定收入流的人来说，不可赎回债券可能是一个有吸引力的选择。另一方面，不可赎回债券也存在一些缺点。主要的缺点是，如果利率下降，投资者可能会错失潜在的资本收益。在这种情况下，现有债券的市场价值会上升，但由于不可赎回债券无法被再融资，投资者只能持有原来的低收益债券。这种情况可能导致机会损失，因为投资者可能希望将资金再投资于新的更高收益的债券。此外，不可赎回债券有时可能承载更多的信用风险。如果一家发行人面临财务困难，无法赎回债券可能意味着投资者不得不持有一只表现不佳甚至面临违约风险的债券。因此，在投资不可赎回债券之前，彻底研究发行人的信用状况至关重要。总之，不可赎回债券代表了债券市场中的独特投资机会。它们为投资者提供可预测的现金流和通常更高的收益，使其对寻求投资稳定性的人具有吸引力。然而，缺乏赎回保护也可能带来风险，特别是在利率变化的环境中。与任何投资一样，了解不可赎回债券的特性并评估个人的财务目标和风险承受能力至关重要。通过这样做，投资者可以有效地将不可赎回债券纳入其整体投资策略中，平衡收益和风险，以实现所期望的财务结果。