[CFA入门] 请教关于nonrefundable bonds的问题 issue, using

dreamhk

notes L1 Page 15:上写Nonrefundable bonds prohibit the call of an issue using the proceeds fromm a lower coupon bond issue.

请问这句话究竟该怎么理解啊?既然prohibit the call of ...为什么后面一句又说,thus, a bond may be callable bu not refundable??

[em09]

dreamhk

......没明白

[em43]