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Business Finance: Bonds

Audience

Managers, prospective managers, and anyone else within an organization involved in making business decisions

Prerequisites

An understanding of the principles of business finance

Course Aim

To provide students with an overview of long-term debt

Learning Objectives

Describe how bonds function. Outline some of the legal requirements for bonds. Describe different types of corporate bond. Calculate the price of a bond. Calculate the current yield. Calculate the yield to maturity. Outline the differences between the current yield and the yield to maturity. Describe and calculate the effective yield on a bond. Define serial bonds. Describe sinking funds. Explain the repurchasing of debt on the open market. Describe municipal bonds. Explain government debt.

Topics Covered

Introducing bonds - Basic characteristics of bonds - Corporate bonds Bond calculations - Bond prices - Hands-on: Calculating the price of a bond - Yields Securties and retiring debt - Retiring dept - Municipal bonds - Federal government debt - Hands-on: Federal debt structure