Define Puttable bond.

Intermediate Financial Management (MindTap Course List)
13th Edition
ISBN:9781337395083
Author:Eugene F. Brigham, Phillip R. Daves
Publisher:Eugene F. Brigham, Phillip R. Daves
Chapter4: Bond Valuation
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Define Puttable bond. 

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Puttable bond:

A puttable bond is a kind of bond that offers the right to the bond holder, but not obligation, to compel the issuer to redeem the bond prior its date of maturity.

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