Skinner, 2014, "The Choice Between Callable and Noncallable
Bonds," Journal of Financial Research 37, 435-459.
According to Sweeney, the bonds Whitman floated constituted noncallable
debt, meaning they could not be redeemed prior to maturity and are locked in at a particular interest rate, in this case 7.5 percent.
exchange for it being noncallable
, while simultaneously keeping open a
If the payor under the ground lease is a publicly traded company with a bond credit rating, then the appraiser can research the yield rate on long-term (30+ years), noncallable
, corporate bonds rated A1/A+ to A3/A-.
The convertible notes are noncallable
and unsecured, and have an initial conversion price of approximately USD 20.41 per share.
New York: Issue: Project Bonds, Series 2016A Noncallable
(Non-Bank Qualified); Rating: MIG 1; Sale Amount: $14,500,000; Expected Sale Date: 03/18/2016; Rating Description: Note: Bond Anticipation
B1) Callable/ Noncallable
preference shares (redeemable / nonredeemable preference shares or Callable/ Noncallable
The Trust for Credit Unions said it has three noncallable
mutual funds currently holding more than $1.2 billion in assets.
Table 1 presents data on 2-day changes in Treasury, (noncallable
) agency, and agency MBS yields around the main event-study dates, spanning the period from November 25, 2008 (the 2-day change from November 24 to November 26), to March 18, 2009 (the 2-day change from March 17 to March 19).
These changes in duration imply that MBS have negative convexity: compared with the price of a noncallable
bond with the same coupon and maturity, MBS prices rise less when rates fall and decline more when rates rise.
The wire service Bloomberg News reported that the notes would be noncallable
and were rated by Moody's Investors Service as B1 (its fourth-highest speculative grade), while Standard & Poor's would rate them at B+ (its second-highest non-investment grade).
bank data, which record 10-yr, fixed-rate noncallable
bonds as the most common type.