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In finance, a high-yield bond (non-investment-grade bond, speculative-grade bond, or junk bond) is a bond that is rated below investment grade by credit rating agencies. These bonds have a higher risk of default or other adverse credit events but offer higher yields than investment-grade bonds to compensate for the increased risk.
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Junk bonds may not trade as frequently as investment-grade bonds, meaning you might have a harder time selling your bonds immediately or without taking a more substantial discount on the market price.
Michael Robert Milken (born July 4, 1946) is an American financier. He is known for his role in the development of the market for high-yield bonds ("junk bonds"), [2] and his conviction and sentence following a guilty plea on felony charges for violating U.S. securities laws. [3]
A corporate bond is a bond issued by a corporation in order to raise financing for a variety of reasons such as to ongoing operations, mergers & acquisitions, or to expand business. [1] The term sometimes also encompasses bonds issued by supranational organizations (such as European Bank for Reconstruction and Development). Strictly speaking ...
The ampersand (&) has sometimes appeared at the end of the English alphabet, as in Byrhtferð's list of letters in 1011. [2] & was regarded as the 27th letter of the English alphabet, as taught to children in the US and elsewhere. [vague] An example may be seen in M. B. Moore's 1863 book The Dixie Primer, for the Little Folks. [3]
According to Robert Sobel, First Executive was involved in 90% of Drexel's underwritings, which accounted for about $40 billion in bonds from 1982 to 1987. After the State of California took over Executive Life, it sold the company's junk-bond portfolio to Altus Finance, a unit of Crédit Lyonnais , in November 1991 for $3.25 billion.