See above quoted.

Perpetual - no expiry date.

This post has been edited by cherroy: Aug 20 2019, 02:45 PM

When a bond is perpetual means it can go forever as long as the company pay the coupon rate.
So you cannot redeem the bond if the company does not wish to call back, but you can sell at bond secondary market, as long as there is another buyer wish to have the bond.

Non-callable means, the company will not call back the bond within the period.
Perpetual bond means forever, but normally company has the option to call back based on company wish, but not a must. It can let the bond run forever as the term of perpetual.

Perpetual bond is treated as one form of equities instead of as liabilities in the balance sheet, as company has no obligation to call back due to no expiry date.

But company can call back at their wish, subjected to tnc of the bond.

Unrated bond means the bond is not being rated by credit assessment agency, like RAM, S&P, Moody etc, whereby they assigned AAA, A+, BBB, etc rating.
So some unit trust manager may not able to buy them, as some fund managers based on the fund prospectus that has a mandate that they must buy BBB or A+ above rating bond.

PS : Not all perpetual bond are the same, their tnc may be vary from each other, ranging callable option, coupon rate step up or not etc. So please read their specific conditions before purchasing.
Disclaimer : I have no information about this or any particular bond discussed in here, just a general explanation on bond.