A bond which, according to the terms and conditions of the bond, cannot be called by the issuer within fixed time limits. This creates planning security for the bondholder (there is a period of time when the bond cannot be called, no matter what the interest rate is). – See bond, callable, bond, non-callable, redemption protection.

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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
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https://de.wikipedia.org/wiki/Gerhard_Ernst_Merk
https://www.jung-stilling-gesellschaft.de/merk/
https://www.gerhardmerk.de/

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