Motywy emisji „obligacji węglowych” jako specyficznych obligacji korporacyjnych opartych na świadczeniach niepieniężnych
The motives for issuing “coal bonds” as a specific corporate bonds based on non-financial benefits

Summary/Abstract: Businesses are now experienced and active players on the financial market where they are able to find the best suited source of financing their activities. Apart from the classical form of financing that is still based on bank lending, the businesses are using corporate bonds, both those “traditional” – based on financial benefits – as well as those less standard and less popular, that are bonds based on non-financial benefits. The bonds based on non-financial benefits include the so-called “coal bonds” which are debt securities issued by coal-mining companies and redeemed with supplies of coal. The article presents the potential motives for using the coal bonds in financing businesses as well as the advantages and limitations of those financial instruments for the issuer and the bond holder.

• Details
• Contents