Bond kamar yadda daya daga cikin iri na Securities

Daya daga cikin muhimman ayyuka na wani tsaro - shi ne don samar da riba, to da mai shi, wanda cikakken zartuwa ga shaidu. Dangane da yadda da bond mariƙin na'am da samun kudin shiga, da bond iya zama wani coupon ko rangwame. Bond ya bayyana a kasuwa na Securities, kamar takarda, wadda daukawa mai coupon, wanda shi ne kashi na dawo da ranar ta samu. Bayan da cewa a wani yini mai na'am da kudi ga shaidu da coupon huce ba.

Saboda haka, da rangwame bond - mai tsaro tare da sifilin coupon, tun da shi ba saita kudi na sama. A owner of irin Securities shi sayayya a wani rangwame kuma sami samun kudin shiga daga rangwame, watau bambanci. A Rasha stock kasuwa ne sau da yawa sosai yana amfani da wannan nau'in na bond. A misali na rangwame bond ne na gajere sifili-coupon shaidu, wanda aka sayar a cikin wani gwanjo a farashin daban-daban daga cikin maras muhimmanci darajar a cikin karami gefen.

Yawanci a lokacin da issuer na bond batun kafa wani maras muhimmanci darajar da Securities da kudi na dawo in kaso sharuddan. Coupon bond yawanci yana da wani ajali sha'awa kudi, wanda aka jera a kan sosai shaidu. Cikin dukanin tsawon na ta da magani, m samun kudin shiga da aka biya a kan shi. Shi ne ya kamata a lura da cewa ka shigar da wani tsayayyen sha'awa kudi mai yiwuwa ne kawai tare da wani barga tattalin arziki halin da ake ciki a kasar, a lokacin da rates da farashin su ne kusan canzawa. In ba haka ba, da gyarawa sha'awa kudi yakan haifar da mafi girma kasada ga issuer. Idan sha'awa rates an saukar da, ya za su biya kudin a wani kudi, wanda ake gyarawa a bayar.

Babu shakka, da issuers sun samu mai ma'ana hanyar fita daga wannan halin da ake ciki. Suka fara bayar da jari da iyo sha'awa kudi. Tartsatsi wannan dangantakar samu a Amurka a cikin 80s, a lokacin da kyan gani Trend-saitin high amfani rates da kuma m canji. Ga kamfanoni da aka riba don en shaidu da iyo sha'awa kudi, wanda aka daura a takamaiman index, wanda, bi da bi, ya nuna halin da ake ciki a kan kudi kasuwa a cikin real duniya. Mafi sau da yawa, irin wannan awo ya kasance amfanin ƙasa a kan wata uku baitul takardar kudi. Lokacin da ka fara haduwa ana kafa daya sha'awa kudi, sa'an nan kuma bayan watanni uku, wannan kudi da aka gyara dangane da yawan amfanin ƙasa a kan takardar kudi. Mafi sau da yawa, da sha'awa kudi a kan bond aka yi sama da biyu aka gyara: da sha'awa kudi a kan taskar takardar kudi da wani hadarin Premium 0.5%.

Idan muka yi la'akari da halin da ake ciki a Rasha Securities kasuwa, wani misali ne a cikin shaidu da iyo rate za a iya kira a tarayya rance shaidu, wanda da m coupon, ko shaidu na jihar tanadi aro. karshe Yawa ne kai tsaye dogara a kan riba na T-takardar kudi. Biya a kan coupon shaidu ne na lokaci-lokaci a cikin yanayi, dangane da yanayin kafa a bayar da shaidu, da samun kudin shiga a shi ne mai yiwuwa a samu wani kwata, rabin shekara ko shekara.

Wani lokaci bond za a iya bayar da wata coupon, wanda wajabta gyarawa amfani da wani tsaro da aka sayar a wata rangwame. Sai mai na'am da samun kudin shiga daga irin wannan "biyu" na tsaro: shi yana da wani yau da kullum coupon biya, da kuma a balaga sami ƙarin albashi.

A ƙarshe, ina so in ambaci irin wannan tsaro a matsayin kudaden shiga bond. Za mu yi kokarin ayyana shi. A bond wannan irin haifar samun kudin shiga ne kawai idan kamfanin yana da riba. Babu samun kudin shiga, babu riba. Bond da ake samu na iya zama a matsayin mai sauki, ko tarawa. Domin da sauki shaidu a baya shekaru "saukar da" samun kudin shiga ba a biya, ko idan a wani m lokaci da m sami wani babban riba. Amma a kan tarawa bond samun kudin shiga da kake tara da biya fita kamar yadda ta yiwu. tarawa lokaci ne yawanci iyakance zuwa shekara uku. Halitta, tare da kawar da tarawa shaidu ne da ya fi yadda talakawa hannun jari da kuma talakawa shaidu.