Extendable Note

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Extendable Note

A bond in which the date of maturity may be extended. Whether the issuer, bondholder, or both have the authority to extend the maturity depends upon the specific terms of the bond agreement. If a maturity is extended, the issuer continues to pay coupons. Thus, extendable notes usually sell at a higher price than other bonds because there is the possibility for a higher return. They are also called extendable bonds.
References in classic literature ?
All flashed indignant or appealing glances at the inexorable Davis, and one passionate lime lover burst into tears.
It started to rain and lightning flashed in the sky.
While the train flashed through never-ending miles of ripe wheat, by country towns and bright-flowered pastures and oak groves wilting in the sun, we sat in the observation car, where the woodwork was hot to the touch and red dust lay deep over everything.
Smothered voices were next heard, as though men called to each other in the bowels of the earth, when a sudden light flashed upon those without, and laid bare the much-prized secret of the place.
He walked to the table and laid his hand on the decanter, when an odd thought flashed upon him.
He was as much out of place as an old sword -- now rusty, but which had flashed once in the battle's front, and showed still a bright gleam along its blade -- would have been among the inkstands, paper-folders, and mahogany rulers on the Deputy Collector's desk.
I was so determined to have all my proof that I flashed into ice to challenge him.
And Jurgis started to mutter some reply; but at the same instant the man raised his light, which flashed in his face, so that it was possible to recognize him.
He breathed short, and his large dark eyes flashed like live coals; and he might have broken out into some dangerous ebullition, had not the kindly manufacturer touched him on the arm, and said, in a low tone,
Surprise and astonishment flashed from face to face all over the house; the queen's gratified smile faded out at the name of Sir Kay, and she looked disap- pointed; and the page whispered in my ear with an accent and manner expressive of extravagant derision --
Presently a revealing thought flashed through Tom's mind, and he exclaimed:
She flashed him an intrepid look and then said proudly, "I'd never go back--I might be frightened, but I'd be ashamed to run.