PDF Notes: SECTION B CORPORATE FINANCE

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    What is long-term financial management?

    Focuses on strategies for managing finances over more than one year.

    What defines capital structure?

    Mix of debt and equity used to finance a company's operations.

    How does long-term financing differ from short-term financing?

    Long-term financing is for permanent needs, while short-term is for immediate operational needs.

    What is the cost of capital?

    Minimum return needed to satisfy shareholders and lenders.

    What is a bond?

    A debt contract where an issuer borrows money and promises to pay interest and principal.

    What happens at a bond's maturity?

    The issuer repays the bond's face value to the bondholders.

    What is a callable bond?

    A bond that can be redeemed by the issuer before its maturity date.

    What is a puttable bond?

    A bond that allows the investor to sell it back to the issuer before maturity.

    What distinguishes a convertible bond?

    It can be converted into a predetermined number of shares of the issuer's stock.

    What are restrictive covenants?

    Clauses that impose restrictions on a borrower to protect creditors.

    What is a mortgage bond?

    A secured bond backed by specific collateral.

    What characterizes a debenture bond?

    An unsecured bond relying solely on the issuer's creditworthiness.

    What is a fixed-rate bond?

    A bond that pays a constant interest rate throughout its life.

    How do floating-rate bonds work?

    Their coupon rate changes periodically based on a benchmark rate.

    What is a zero-coupon bond?

    A bond that pays no periodic interest and is issued at a discount.

    What is a step-up bond?

    A bond with a coupon rate that increases over time.

    What is a redeemable bond?

    A bond with a fixed maturity date for repayment of face value.

    What is an irredeemable bond?

    A bond with no maturity date, paying interest indefinitely.

    What is long-term financial management?

    Focuses on strategies for managing finances over more than one year.

    What defines capital structure?

    Mix of debt and equity used to finance a company's operations.

    How does long-term financing differ from short-term financing?

    Long-term financing is for permanent needs, while short-term is for immediate operational needs.

    What is the cost of capital?

    Minimum return needed to satisfy shareholders and lenders.

    What is a bond?

    A debt contract where an issuer borrows money and promises to pay interest and principal.

    How do bonds generate cash flows for investors?

    Investors receive periodic interest payments and principal at maturity.

    What is the par value of a bond?

    The amount repaid to bondholders at maturity, typically $1,000.

    What is a callable bond?

    A bond that can be redeemed by the issuer before its maturity date.

    What is a puttable bond?

    A bond that allows the investor to sell it back to the issuer before maturity.

    What is a convertible bond?

    A bond that can be converted into a predetermined number of shares of stock.

    What are restrictive covenants?

    Clauses in a debt agreement that impose restrictions on the borrower.

    How do mortgage bonds differ from debenture bonds?

    Mortgage bonds are secured by collateral, while debentures are unsecured.

    What is a fixed-rate bond?

    A bond that pays a constant interest rate throughout its life.

    What is a zero-coupon bond?

    A bond that pays no interest but is sold at a discount to its face value.

    What happens if a debtor breaches a debt covenant?

    The debt becomes due immediately.

    What is a sinking fund?

    A fund set aside to repay bonds as they come due.

    What is an indexed bond?

    A bond whose payments are linked to an inflation index.

    What is a step-up bond?

    A bond with increasing coupon rates over time.

    What is a deferred-interest bond?

    A bond that does not pay interest in early years but accrues it.

    What is the difference between redeemable and irredeemable bonds?

    Redeemable bonds have a fixed maturity date; irredeemable bonds pay interest indefinitely.