I think bonds are different enough from other forms of repayable finance to warrant their own type. In particular:
They can be traded (and some are listed on public exchanges). This implies fungibility and different identifiers (e.g., a SEDOL for a bond traded on LSE).
They can have very complex structures. For example, retained bonds can be sold after the original issue and at a price the market will bear, which potentially means a different yield.
Golden Lane charity bond, issued via Allia: £18m; of which retained bonds, £8m.
Orbit Housing Association, selling retained bonds at yield of 3.08% compared to original yield of 3.5%.
Principal repaid at the end.
With a provider like Allia, their bigger issues (what they describe as charity bonds) are all publicly listed and could therefore be modelled using prospectuses and data from LSE. For example, Hightown bond.
I think bonds are different enough from other forms of repayable finance to warrant their own type. In particular:
With a provider like Allia, their bigger issues (what they describe as charity bonds) are all publicly listed and could therefore be modelled using prospectuses and data from LSE. For example, Hightown bond.