To think critically about: The reason why companies like callable bonds and investors are not fond of it. Introduction: Callable bonds are those bonds which can be redeemed by the issuer prior to its maturity date. The company wants to refinance the debt at lower rates if the interest rates have declined.

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Chapter 19, Problem 3CT

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To think critically about: The reason why companies like callable bonds and investors are not fond of it.

Introduction: Callable bonds are those bonds which can be redeemed by the issuer prior to its maturity date. The company wants to refinance the debt at lower rates if the interest rates have declined.

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