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A bond where the issuer is a church, school, or other non-profit. The term may also refer to a bond that the underwriter attempts to sell by appealing to the investor's better angels, rather than his/her desire for profit.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
A bond issued by a private nonprofit corporation such as a church, hospital, or school. The term refers to the type of sales pitch used for such bonds; it often appeals more to buyers' hearts than to their pocketbooks.
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.