What are the different types of bonds?

There are two types of bonds.

  • Secured bond

A secured bond pledges some specific assets to bondholders in a situation where the company isn’t able to repay its obligation. They are backed by collateral.

  • Unsecured bonds

Bonds that do not have the backing of any collateral are known as unsecured bonds or debentures. Only the issuing company guarantees the principal and interest.

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