Permanent Interest Bearing Shares (PIBS) are a type of long-term corporate debt security that offer investors a fixed rate of interest, usually paid quarterly or semi-annually. Unlike regular bonds, PIBS do not have a maturity date and continue to pay interest indefinitely. This makes them an attractive investment option for those seeking a stable and predictable income stream.
Type | Features |
---|---|
Non-cumulative | Interest is not paid if the issuing corporation does not have sufficient profits. |
Cumulative | Interest is paid even if the issuing corporation does not have sufficient profits. |
Participating | Investors receive a share of the issuing corporation's profits in addition to the fixed interest. |
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