开发者:上海品职教育科技有限公司 隐私政策详情

应用版本:4.2.11(IOS)|3.2.5(安卓)APP下载

cika · 2023年01月29日

Bond tender offer

* 问题详情,请 查看题干

NO.PZ202209060200004106

问题如下:

Which of the following strategies would Maestre most likely recommend for retiring the Cávado bond?

选项:

A.Bond tender offer B.Cash flow matching with government bonds C.Duration matching with corporate bonds

解释:

Solution

A is correct. Because the outstanding bond issue can likely be purchased for a small premium over market value, there is no reason to engage in a more complicated and likely more expensive retirement process using a cash flow-matching or duration-matching strategy.

B is incorrect because there is no need to engage in the more complicated process when the outstanding bond issue can be purchased at little premium.

C is incorrect because there is no need to engage in the more complicated process when the outstanding bond issue can be purchased at little premium.

请问老师,Bond tender offer什么意思,这道题为什么选Bond tender offer

2 个答案
已采纳答案

pzqa015 · 2023年01月29日

嗨,从没放弃的小努力你好:


公司在公司市场买回自己的债券。因为发行在外的债券只有很小的溢价,所以,用tender offer买回债券的成本不会太高。所以选tender offer。

----------------------------------------------
努力的时光都是限量版,加油!

丁丁 · 2023年02月12日

老师,我想问下tender offer的cost 是不是都比cash flow match 的cost 低,我怎么记得讲义上写的是tender offer的成本更高一点

pzqa015 · 2023年02月12日

嗨,努力学习的PZer你好:


一般情况下tender offer成本高,因为债券流动性差,不断买入有溢价。除非题目说了发行在外的债券流动性好,溢价低,就像本题这样。

----------------------------------------------
加油吧,让我们一起遇见更好的自己!

  • 2

    回答
  • 0

    关注
  • 978

    浏览
相关问题

NO.PZ202209060200004106 问题如下 Whiof the following strategies woulMaestre most likely recommenfor retiring the Cáva bon A.Bontenr offer B.Cash flow matching with government bon C.ration matching with corporate bon SolutionA is correct. Because the outstanng bonissue clikely purchasefor a small premium over market value, there is no reason to engage in a more complicateanlikely more expensive retirement process using a cash flow-matching or ration-matching strategy.B is incorrebecause there is no neeto engage in the more complicateprocess when the outstanng bonissue cpurchaselittle premium.C is incorrebecause there is no neeto engage in the more complicateprocess when the outstanng bonissue cpurchaselittle premium. tenoffer 和 MATCHING 是不是 都可以accounting feasement? 只是因为这道题说,从市场上买回债券溢价很小,所以tenoffer更为合适。 matching 不合适的原因是因为构建起来比较复杂?

2023-05-24 20:40 1 · 回答

NO.PZ202209060200004106问题如下Whiof the following strategies woulMaestre most likely recommenfor retiring the Cáva bonA.Bontenr offerB.Cash flow matching with government bonC.ration matching with corporate bonSolutionA is correct. Because the outstanng bonissue clikely purchasefor a small premium over market value, there is no reason to engage in a more complicateanlikely more expensive retirement process using a cash flow-matching or ration-matching strategy.B is incorrebecause there is no neeto engage in the more complicateprocess when the outstanng bonissue cpurchaselittle premium.C is incorrebecause there is no neeto engage in the more complicateprocess when the outstanng bonissue cpurchaselittle premium.有点忘了Bontenr offer 是在哪里了,求指路

2023-01-25 13:32 1 · 回答