Generally, the borrowing of outside money by an economic entity; a loan, a credit. – A debt security (bond) – in certificated form as an issue of securities, – by means of which a company or the state – secures a larger amount – in the form of bearer parts – from a larger number of creditors – on certain conditions, (debt instrument in which the issuer – also called debtor or borrower – is obligated to pay the lender – also called investor – a specified amount of money, usually at particular intervals, and to repay the principal amount borrowed of the loan at maturity). – When financing via bonds, the issuer incurs considerable expenses (such as commissions, advisory and publication costs), regardless of the amount borrowed. The high fixed costs of an issue alone therefore mean that bonds are practically only an option for companies with high outside capital needs. – See Absorptive capacity, Accrual bond, Equity bond, Bond contract, Bond, Interest-bearing, Annuity bond, Foreign bond, Bank bond, Blue-sky laws, Borg power, Bulldog bond, Clean price, Loan, deep-discount bond, disagio, duration, squeeze through, ekart, Euromarket, financial instrument, fiscal agent, foreign currency bond, money values, municipal bonds, profit taxation, profit bond, bearer bond, credit, credit spread, war bond, maturity risk, market glut, metalliques, payment-in-kind bond, placement, private placement, redemption protection, tangible asset bonds, debt securities, government bond, straight bond, exchange bond, draw, savings premium bond, step-down bond, tap, death spiral, exchange bond, conversion, corporate bonds, securitization, convertible bond, convertible premium, interest rate risk, interest rate structure, mandatory bond, mandatory convertible bond. – Cf. ECB Monthly Bulletin of February 2005, p. 26 ff (statistics), ECB Monthly Bulletin of April 2005, p. 74 (comparability of statistics), ECB Annual Report 2005 (Bonds issued by general government in the euro area, with overviews), ECB Monthly Bulletin of August 2010, p. 18 ff (Bonds in the euro area since 2006; typology; overviews).

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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
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