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Extraordinary Calls

There are extraordinary mandatory and extraordinary optional calls.  This means that some sort of extraordinary event has occurred, and as a result the issuer may or may not be required to call the bonds.

For example, if a toll bridge is financed with a bond offering, and an earthquake caused the bridge to fall, the bonds would have to be called in, and the event was certainly extraordinary.

Related Terms:

Mandatory Calls
The issuer has a mandated savings account (the sinking fund) and is required to make deposits ...

Treasury Bond
U.S. Treasury bonds, also known as long bonds, are issued in 30-year terms.The T-bond is ...

Covered Call
A strategy that involves buying stock shares and selling calls. If the calls are assigned, the ...

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