Sentences with phrase «bondholder of the additional interest»
A callable bond is worth less to an investor than a noncallable bond because the company issuing the bond has the power to redeem it and deprive the bondholder of the additional interest payments he'd be entitled to if the bond was held to maturity.
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From the bondholder's perspective, OID is simply additional interest that the bondholder will receive on the bond, except that it is paid at maturity instead of annually throughout the life of the bond.