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The Original Maturity of Corporate Bonds: The Influence of Credit Rating, Asset Maturity, Security, and Macroeconomic Conditions


Geetanjali Bali


University of Reading - ICMA Centre

Frank S. Skinner


Brunel University; University of Surrey - School of Management

The Financial Review, Vol. 41, No. 2, pp. 187-203, May 2006

Abstract:     
We examine the determinants of the new issue maturity of corporate bonds. As credit rating decreases, new bond issues have longer maturities, but substantial variation in maturity within each rating class remains. We seek to explain the variation of new issue maturity within credit classes. We find that asset maturity, security covenants, and macroeconomic conditions influence the new issue maturity of bonds within rating categories.

Number of Pages in PDF File: 17

Accepted Paper Series


Date posted: November 20, 2006  

Suggested Citation

Bali, Geetanjali and Skinner, Frank S., The Original Maturity of Corporate Bonds: The Influence of Credit Rating, Asset Maturity, Security, and Macroeconomic Conditions. The Financial Review, Vol. 41, No. 2, pp. 187-203, May 2006. Available at SSRN: http://ssrn.com/abstract=945506 or http://dx.doi.org/10.1111/j.1540-6288.2006.00138.x

Contact Information

Geetanjali Bali
University of Reading - ICMA Centre ( email )
Whiteknights Park
P.O. Box 242
Reading RG6 6BA
United Kingdom
Frank S. Skinner (Contact Author)
Brunel University ( email )
Uxbridge, Middlesex UB8 3PH
United Kingdom
University of Surrey - School of Management ( email )
Guildford, Surrey GU2 7XH
United Kingdom
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