Võlakirjaga

Võlakirjaga, often translated as "bond" in English, is a type of debt security. When an investor buys a võlakiri, they are essentially lending money to the issuer, which can be a corporation or a government entity. In return for this loan, the issuer promises to pay the investor periodic interest payments, known as coupons, over a specified period and to repay the principal amount of the loan on a predetermined maturity date.

Võlakirjad are a common way for organizations to raise capital for various purposes, such as funding new projects, expanding operations, or refinancing existing debt. For investors, võlakirjad can offer a relatively stable stream of income and are generally considered less risky than stocks, though the level of risk varies depending on the issuer's creditworthiness. The value of a võlakiri in the secondary market can fluctuate based on factors like interest rate changes, inflation, and the issuer's financial performance. Different types of võlakirjad exist, including government bonds, corporate bonds, municipal bonds, and zero-coupon bonds, each with its own characteristics and risk profiles.