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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.

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.


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.


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.
References in periodicals archive ?
Consol said the purchase would boost its proved reserves of gas by more than 50 percent to about 3 trillion cubic feet and double its potential reserves to about 41 trillion cubic feet.
If that ruling remains in effect, and if other alternatives for the disposal of water are not available, then CONSOL Energy may be forced to further idle the Buchanan Mine.
Nicholas J DeIuliis, president of CONSOL Energy, said, 'This facility is significant to CONSOL Energy and West Virginia on many levels.
3 March 2011 - S&P on Wednesday upheld its BB corporate credit rating (CCR) with a "negative" outlook and other ratings of US coal and natural gas producer Consol Energy Inc (NYSE:CNX).
The micro-turbine was installed as part of a Pennsylvania DEP project grant awarded to CONSOL Energy R&D -- in conjunction with CNX Gas Corporation, majority owned by CONSOL Energy -- and is being tested at CONSOL Energy's Bailey underground mine in western Greene County, Pa.
Winberg, CONSOL Energy's general manager of Research & Development.
Consol Energy, the third largest coal producer in the US, is to close three mines supplying the Keystone power plant in Pennsylvania.
Environmental Protection Agency, and the state of Pennsylvania, announced today that Consol Energy Inc.
Energy producer CONSOL Energy (NYSE:CNX) disclosed on Thursday the retirement of its executive vice president and chief commercial officer, James C.
4 April 2016 - US-based natural gas and coal producer Consol Energy Inc.