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Suechen · 2020年05月24日

问一道题:NO.PZ2018062006000025 [ CFA I ]

问题如下:

Which type of bond is a reasonable choice for a company that is financing a large project and will generate cash flows after a period of time?

选项:

A.

A floating rate note.

B.

A deferred coupon bond.

C.

A capital-index bond.

解释:

B is correct.

The coupon payments of a deferred coupon bond are deferred for a number of years. It is favorable for financing projects that will not generate any revenue until it is completed. When the revenues are generated after the project is completed, the cash flows from the project and assets can be used to pay the coupon.

没明白,可以再解释一下吗

1 个答案

吴昊_品职助教 · 2020年05月25日

这道题说的就是deferred coupon bond的定义,发行这种债券,初期当项目没有现金流入时,债券发行人不需要给投资者支付coupon,这样就可以缓解发行人的流动性压力。