Consols .December 29, 2020
Consols (originally short for consolidated annuities, but subsequently taken to mean consolidated stock) was a name given to certain government debt issues in the form of perpetual bonds, redeemable at the option of the government. They were issued by the Bank of England and the U.S. Government. The first British Consols were issued in 1751.They have now been fully redeemed. The first U.S. Government Consols were issued in the 1870s.
What is a consol in finance :
Key Takeaways. Perpetual bonds, also known as perps or consol bonds, are bonds with no maturity date. Although perpetual bonds are not redeemable, they pay a steady stream of interest in forever. Because of the nature of these bonds, they are often viewed as a type of equity and not a debt.Mar 19, 2020.
Do Consol bonds still exist :
The final 23⁄4% and 21⁄2% bonds were redeemed on 5 July 2015. Section 124 of the Finance Act 2015 made the legal provisions for the ending of the Consol.