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A few, but I never understood why this critique mattered... Even in bankruptcy/acquisition, the liability just transforms or gets paid or taken over by someone else... Doesn't matter that the exact current form of the company assets won't exist that long, no?
That would depend on the nature of the company's demise and who has top priority, wouldn't it?
A little, I guess. No guarantee you as a bondholder will be paid par value
This.
I don't find the demand from pension funds very convincing. Would the pensioners themselves have chosen the 100 year bond? Seems like there could be a misalignment between the incentives of the fund managers and their beneficiaries. Perhaps the pension fund managers are in bed with the finance bros at Google?
Duration matching, I'd say. They want instruments that balance their outstanding obligations (ie pension liabilities thirty-fifty years out)
How many companies ever even last 100 years?