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1. Mishkin. and Eakins (2013)reported that large corporations may issue bonds when they need to borrow funds for a long period.

2. The bond indenture is a declaration which clarifies the rights, privileges and obligations between buyer’s and issuer’s. (Mishkin. and Eakins, 2013)

3. Bonds with lower risk and a higher rating have lower interest rates than more risky bonds. (Mishkin. and Eakins, 2013) →  More safety the bond is, lower interest rates it has. (Mishkin. and Eakins, 2013)

4. Bearer bonds have now been largely replaced by registered bonds, which do not have coupons. (Mishkin. and Eakins, 2013) → Registered bonds, which do not have coupons have mostly replaced bearer bonds these days. (Mishkin. and Eakins, 2013)

5. Since bondholders cannot look to managers for protection when the firm gets into trouble, they must include rules and restrictions on managers designed to protect the bondholders’ interests. (Mishkin. and Eakins, 2013) →  Considering bondholders cannot seek protection from the managers when the firm is in trouble, there must be rules and restrictions on managers to protect the bondholders’ interests. (Mishkin. and Eakins, 2013)