Irredeemable bond

Irredeemable bond

A bond lacking a call feature or a right of redemption. Also refers to a perpetual bond.

Irredeemable Bond

1. Any bond that is not a callable bond. The issuer of an irredeemable bond may not call, refinance, or otherwise prevent the bond from reaching its maturity.

2. See: Perpetual bond.
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In short, for an irredeemable bond, the percentage yield = (annual interest received/current bond price) x 100.
As with irredeemable bonds, the price of redeemable bonds can fluctuate over time.
The conventional formula for irredeemable bonds is typically presented as the "cost of irredeemable bonds, paying annual net interest (ill - ti), and having a current ex-interest price (Po)".