perpetual bonds; perpetual debenture

简明释义

永久债券

英英释义

例句

1.Investors are attracted to perpetual debentures because of their fixed interest payments.

投资者被永久债务证券吸引，因为它们提供固定的利息支付。

2.The company issued perpetual bonds to raise funds for its new project.

该公司发行了永久债券以筹集新项目的资金。

3.Unlike regular bonds, perpetual bonds do not have a maturity date.

与普通债券不同，永久债券没有到期日。

4.Investing in perpetual bonds can provide a steady stream of income over time.

投资于永久债券可以在一段时间内提供稳定的收入流。

5.The city issued perpetual debentures to finance infrastructure improvements.

该市发行了永久债务证券以资助基础设施改善。

作文

In the world of finance, various instruments are utilized by corporations and governments to raise capital. One such instrument that has gained attention is the perpetual bonds, also known as perpetual debenture. These financial tools are unique in their structure and offer distinct advantages and disadvantages for both issuers and investors. Understanding how these instruments work is crucial for anyone involved in investment or corporate finance.A perpetual bond is a type of bond that does not have a maturity date. This means that the bond issuer is not obligated to return the principal amount to the bondholder at any specific time. Instead, these bonds pay interest indefinitely, which can be attractive to investors seeking a steady income stream. The interest payments, often referred to as 'coupons', are typically fixed and paid out regularly, making them similar to traditional bonds in that respect.One of the key advantages of perpetual debentures is the predictability of income. Investors can rely on the regular coupon payments without worrying about the bond reaching maturity. This can be particularly appealing in low-interest-rate environments, where finding yield can be challenging. Furthermore, because these bonds do not mature, they can provide a hedge against inflation if the coupon rate is higher than the inflation rate, allowing the investor’s purchasing power to remain intact over time.However, there are significant risks associated with perpetual bonds. Since there is no maturity date, investors may be exposed to interest rate risk for an extended period. If interest rates rise, the value of existing perpetual debenture will likely decline, as new bonds may be issued with higher yields. Additionally, the lack of a maturity date means that investors may never receive their principal back, which can be a deterrent for those who prefer more traditional investments.From the issuer's perspective, perpetual bonds can be an advantageous way to raise capital without the pressure of repaying the principal. Companies can use the funds raised through these bonds for various purposes, including expansion projects or refinancing existing debt. Moreover, since the interest payments are often tax-deductible, this can create additional financial benefits for the issuer. However, it is essential for issuers to maintain a strong credit rating, as lower ratings can lead to higher borrowing costs and reduced investor confidence.In conclusion, perpetual bonds and perpetual debenture represent a unique segment of the fixed-income market. They offer specific benefits, such as consistent income and no maturity risk, but also come with their own set of challenges, including interest rate risk and the potential for loss of principal. Investors must carefully consider their financial goals and risk tolerance before investing in these instruments. As the financial landscape continues to evolve, understanding the nuances of various investment vehicles like perpetual bonds will empower individuals and institutions to make informed decisions that align with their investment strategies.

在金融世界中，各种工具被企业和政府用来筹集资金。其中一种引起关注的工具是永久债券，也称为永久债务。这些金融工具在结构上独特，为发行人和投资者提供了明显的优势和劣势。理解这些工具的运作方式对于任何参与投资或公司财务的人来说都是至关重要的。永久债券是一种没有到期日的债券。这意味着债券发行人不需要在任何特定时间向债券持有人返还本金。相反，这些债券会无限期支付利息，这对寻求稳定收入来源的投资者来说可能是有吸引力的。利息支付，通常称为“票息”，通常是固定的，并定期支付，使它们在这方面与传统债券类似。永久债务的一个主要优势是收入的可预测性。投资者可以依靠定期的票息支付，而不必担心债券到期。这在低利率环境中特别吸引人，因为寻找收益可能具有挑战性。此外，由于这些债券没有到期日，如果票息率高于通货膨胀率，它们可以为投资者提供对冲通货膨胀的机会，从而使投资者的购买力在一段时间内保持不变。然而，永久债券存在显著风险。由于没有到期日，投资者可能在较长时间内面临利率风险。如果利率上升，现有的永久债务的价值可能会下降，因为新债券可能以更高的收益率发行。此外，缺乏到期日意味着投资者可能永远无法收回本金，这对于那些更喜欢传统投资的人来说可能是一个障碍。从发行人的角度来看，永久债券可以成为筹集资本的一种有利方式，而不必承受偿还本金的压力。公司可以利用通过这些债券筹集的资金用于各种目的，包括扩展项目或再融资现有债务。此外，由于利息支付通常可以抵税，这可能为发行人创造额外的财务利益。然而，发行人必须保持良好的信用评级，因为较低的评级可能导致更高的借款成本和降低投资者信心。总之，永久债券和永久债务代表了固定收益市场的一个独特细分领域。它们提供了特定的好处，如持续收入和没有到期风险，但也带来了自己的挑战，包括利率风险和本金损失的潜在风险。投资者在投资这些工具之前必须仔细考虑他们的财务目标和风险承受能力。随着金融环境的不断演变，理解各种投资工具的细微差别，如永久债券，将使个人和机构能够做出符合其投资策略的明智决策。