Attract financial resources for the company releases the bonds (from lat. Val. Obligatio ? link). Different authors bonds definition is expressed differently, but among them there is no significant difference of opinion. LB economist Oh. Trap gives the following explanation of bond: a security representing the debt obligations and gives the holder the right to pre-determined (fixed) income as a percentage of bond face value.
Russian economist V. Kolesnikovas and L. Kroliveckas interpretation of any commercial bank bond is a security certifying a loan between the bond holders (creditors) and the bank that it has released. The second definition is general, however, remain unnoticed financial relations between the two sides. This lack of dissolved L. Balabanovs.
L. Balabanovs bond is defined as in Oh. Trap, but an essential complement to, stating that the creditor?s profit is not a necessary element in the definition of the bond: a bond is a security (debt obligations), after which the issuer undertakes to pay the bond holder a fixed amount of a given moment or the future payment of income, the amount of which is fixed a percentage of form at nominal value.
A. Burenina view on this issue is hardly analogous Balabanova opinion only emphasizes the bond as an integral component. Bond gets a / s commitment to return the owner of the nominal value of the prescribed period, the yearly pay him a certain percentage of income in the form of the bond nominal value.
The bond holder has a / s lending. It gets a / s link to return the owner of the nominal value of the specified time (ie, to transfer the debt), as well as to pay him an annual income in the form of a certain percentage of the nominal value of bonds. In addition, this commitment is mandatory and does not bind the a / s profits. Bonds can be a name and bearer. Bearer bond includes the following details: number, denomination, interest rate, emitetajsabiedribas name, total amount of borrowings, interest costs, and provisions. Bond include additional properties ? the holder?s name. By name and company bonds carried a special register of their respective owners.
The bond value has two components ? face value and coupon value. Income paid to the coupons (usually twice a year). Bonds in circulation may be equally valid banknotes, they are stock transaction object.
Distinguishes between the nominal value and actual value or rate. The bond buying, make the relevant calculations.
Example. Are sold in 500 piecprocentu $100 bonds with a nominal amount of 50 000. In addition, the amount of nominaala $20 000is running coupons, but the amount of $ 30 000 no coupon. Bond rate is 98, the transaction is the 27th February. Determine how the vendor will receive the bond. Solution. Inters nominal value of bonds = Ls 50 000 minus 2% (rate 98) or 100 $ =$ 49 000 plus 5% for 56 days + $ 388.89 minus the missing coupon value (300 pcs.) =$ 750.00 $48 638.89
Income on bonds may be paid, not only by paying a coupon value, but also the issue of prizes (bonuses) for redemption Lotteries. Prize (prize) of the Regulations must be printed on the back its own bonds. Nominal value of bonds to be deleted (redeemable) within a specified period, which shall state specifically the issuing of bonds.
Mortgage and Land Bank bonds called debentures.
Bond may be an individual stationery used by the borrower shall submit to the credit institution (credit union) as proof of his mortgaged property, t. i., as proof that the borrower undertakes to repay the debt to the mortgaged property not sold, and burdened with debts, but such a bond is the holder does not bear fruit. Customer (the borrower) in this case, a bond must be accompanied by an extract from the land register, which shows exactly where the bond koroboracijas order entered in the Land Book.
If the bond passed a joint stock company, it gets an opportunity to collect additional funds, but the bond does not give the holder the right to vote a / s general meeting. [1.99 to 100]
Bonds tend to be:
1) Treasury bonds;
2) the internal debt bonds;
3) The economic entity?s bonds.
Bonds may also be of interest and interest-free (with a product or service goals).
Of Government and local government bonds are issued to the bearer. The economic entity?s bonds are released as a word, as the bearer bonds.
Interest on bonds indicate the level of interest paid and the date.
On the target (interest free) bonds indicate a good or service for which they have been released.
Economic entities may be omitted in convertible bonds.
Convertible bond gives the holder the right to pamainit of the same issuer?s common stock under the conversion privilege provisions.
For convertible bonds as the basic criteria is necessary to give the first date, making it possible to convert the bonds on the stock and the conversion premium. With the conversion premium is understood expressed as a percentage of the amount overpaid shares current price for the right to convert the bonds into ordinary shares.
The funds that are mobilized in the bank to release the bond in the main, are considered to be occupied, unlike the cash balance of client accounts in the banking practice called for the borrowers. Issuance of the bonds the bank plays an active role in the release, the initiative belongs to it, at the time when attracting investment bank?s role is passive.
From certificates of deposit and savings certificates, bank drafts and bank bonds is different, first, the release date (it can not be omitted from the date fixed for less than one year) and, second, the output of the procedure. Joint-stock commercial banks, which issue of bonds, are the same requirements as a share of output. The bond issue regulated by the same regulatory documents, as the stock output.
Bank?s bond issue will borrow raising money can only be provided that are fully paid all of the shares issued by the bank (if it is a stock commercial banks) or the fully paid shares of joint stock banks with statutory owners (if a co-operative bank).
Bond sales may take place either on the basis of the sales contract with the buyer or the exchange of bonds issued in the past and other securities.
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