Question: A bond issue may include a conversion feature, a call feature, or stock purchase warrants. The return on a bond can be measured by its

A bond issue may include a conversion feature, a call feature, or stock purchase warrants. The return on a bond can be measured by its current yield, yield to maturity (YTM), or yield to call (YTC). Bond prices are typically reported along with their coupon, maturity date, and yield to maturity (YTM). Bond ratings by independent agencies indicate the risk of a bond issue. Various types of traditional and contemporary bonds are avail-able. Eurobonds and foreign bonds enable established creditworthy companies and governments to borrow large amounts internationally. LG

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