(1) Medium- to long-term securities (usually fixed-interest) issued and offered for public subscription during a specified period as a means of raising capital. In Switzerland, bond issues usually run for 5-15 years. In many cases the borrower and/or bondholder is given the right to repay or redeem all or part of the issue prior to final maturity upon observance of a notice period. Special forms include convertible bond issues, index-linked bond issues, foreign bond issues and Eurobonds. (2) See also bond.

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