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A government bond with no maturity . Popular in Great Britain. The formula for valuing these bonds is simple. The consol payment divided by yield to maturity is the price of the bond.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Perpetual Bond

A bond in which the issuer does not repay the principal. Rather, a perpetual bond pays the bondholder a fixed coupon as long as he/she holds it. Prices for perpetual bonds vary widely according to long-term interest rates. When interest rates rise, perpetual bonds fall and vice versa. Perpetual bonds are most common in the United Kingdom, where they were used originally to pay for the military.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved


A debt instrument having no scheduled return of principal and therefore perpetual interest payments and no maturity. Consols fluctuate widely in price with changes in long-term interest rates. They have never been popular in the United States. Also called annuity bond, perpetual bond. See also perpetuity.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.


a FINANCIAL SECURITY issued by the government as a means of raising money. Consols are issued at a fixed price and bear a nominal fixed INTEREST RATE. Unlike other securities issued by the government such as TREASURY BILLS and BONDS, consols are irredeemable, i.e. they do not carry a specified redemption date. However, consols can be bought and sold on the STOCK MARKET at variable prices reflecting the forces of supply and demand for them.
Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson
References in periodicals archive ?
Bechshoft, T., Derocher, A.E., Richardson, E., Mislan, P., Lunn, N.J., Sonne, C., Dietz, R., Janz, D.M., and St.
It is noteworthy that 75 percent of those interviewed rely on discounted cash flow as the primary tool of analysis, according to Sonne, who noted the anecdotal survey responses indicate this is due to revenue enhancement or management models, or the ability to raise rents on existing tenants at any time.
The romantic mood is shattered when Boxer, Blinker and Fuss arrive to collect Sonne to carry out a job on behalf of a sadistic gangster called Andi (Andre Hennicke).
Sonne and his pals are well drunk and a little thuggish, for one thing, while Victoria is a foreigner who looks (and behaves) like a trusting 15 year old -- actually Costa looks a bit like Sugarcubes-era Bj?rk -- so you may find yourself dreading where the story's destined.
And yet through this emphasis on the opposing principles of construction and destruction, Sonne's art establishes a sort of "battlefield," on which not just individual works but entire linguistic territories face off.
For Sonne's "TXC" series, also at the West show, he poured chemical solvents over the painted canvas, and watched the chemical reaction change the colors with each pour.
In October 2009 the atmospheric physicist from the Alfred Wegener Institute, Helmholtz Centre for Polar and Marine Research (AWI) was on board the German research vessel "Sonne" to measure trace substances in the atmosphere in the tropical West Pacific.
Four nights' bed and breakfast accommodation at the three-star Hotel Sonne, Fugen ?
[beaucoup moins que]L'heure de la paix a sonne au Darfour, une paix qui a besoin d'etre renforcee par le developpement[beaucoup plus grand que], a declare a l'ouverture des travaux, le Premier ministre du Qatar, cheikh Hamad Ben Jassem Al- Thani.
Mutasim Mirghani Zaki Eddine ,Wali de l'Etat du Nord-Kordofan a sonne la cloche dans l'ecole Azhari dans la ville d'Obied annoncant le demarrage des examens de 2013 m -2012 en presence d'un certain nombre de responsables executifs et legislatifs et educatifs.
Sonnar comes from Sonne, which means "sun" in German, to highlight the bright, clear pictures this lens delivers.
Ce matin Le cafe est amer Le ciel est gris Les arbres prient Le saule pleureur gemit Les fleurs ne s'ouvrent plus Les oiseaux ne chantent plus Les chiens n'aboient plus Mon chat ne ronronne plus Le soleil est parti Le temps s'est arrete Le telephone ne sonne plus La radio ne chante plus Il pleut Il pleure Mon poete n'est plus!