Irredeemable Securities Undated

Irredeemable Securities Undated

Irredeemable Securities, undated' securities; those with no stated date for the cash repayment (redemption) of invested capital. Possession gives the holder the right to the income attaching to it but no right to repayment at its nominal par (or 'face') value. It can only be converted into cash by selling it for what it will bring in the securities market. Some British Government securities are irredeemable.

Issuing House, a merchant bank, such as Rothschilds or Lazards, or a house formed to negotiate capital issues, such as the Chaxterhouse Investment Trust, which advises companies, local authorities, overseas government s and government agencies wanting long-term finance on the kind, terms and timing of issues, arranges guarantees that issues will be fully subscribed (underwriting), sponsors issues with its name and reputation and allots shares. Issuing houses may also act as accepting houses, investment banks or managers of investment trusts.



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