Bonds that require the face value (principal) amount to be paid back in installments over the life of the bond are called Option(e) Serial bonds.
Serial bonds are multiple debt issues maturing at staggered intervals before all segments are fully repaid.
There is simultaneous issuance of each maturation segment in a serial bond, and the repayment schedule is detailed in the prospectus.
A serial bond does not utilize sinking funds but instead relies on revenues generated from the project the bond finances, making it particularly popular for municipal bonds.
a. Callable Bonds
b. Convertible Bonds
c. Secured Bonds
d. Term Bonds
e. Serial Bonds
f. Unsecured Bonds
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