债券到期期限

债券价格、到期期限以及到期收益率的数学分析方法

Analysis on security price , time , income rate

其目标是降低偿债成本，并通过将短期、高息的银行贷款置换为低息、长期的市政债券来延长到期期限。

The goal is to lower debt-servicing costs and extend maturities by converting short-term , high-interest bank loans to low-interest , long-term municipal bonds .

其直接影响是，如果企业陷入困境，它们在再融资上会具有更大的灵活性，比如，通过发行垃圾债券或延长贷款到期期限的方式。

As a direct result , companies have more leeway to refinance if in difficulty , for instance through issuing junk bonds or extending the maturity of the loan .

结果表明，忽略流动性风险会导致对高信用级别公司债券，特别是到期期限较短的高信用级别公司债券违约率的高估，进而造成信用违约互换初始定价的高估。

The results indicate that the neglect of liquidity risk will results in the overestimation of default probability of high-rated bonds , especially those with short maturities , thus further resulting in an overestimation of initial credit default swap prices .

即便连迪拜债务恐慌也未能阻止投资者购买较长期债券：英国机场运营商baa昨日发行了今年规模最大的英镑通胀挂钩债券，到期期限为30年。

Even the Dubai debt scare has failed to put off investors from buying longer-dated bonds , with baa , the UK airports operator , yesterday issuing the largest Sterling inflation-linked bond this year with a maturity of 30 years .