An isthmus is a land bridge bordered on both sides by water that connects two larger bodies of land. A narrow strip of land with sea on either side. (dictionary.com) An Isthmus is a narrow strip of land connecting two larger land areas usually with water on either side. Of note, the Isthmus of Corinth connects the peninsula of Peloponnese with the rest of the Greek peninsula, the Isthmus of Panama connects the continents of North and South America (the Americas), and the Isthmus of Suez in Egypt connects Africa and Asia (or Eurasia).
straight bond. Definition. Bond which will pay back the principal on its maturity date, will pay a specified amount of interest on specific dates, and does not carry a conversion privilege or other special features.
Types of High-Yield Bonds As the high-yield market has grown, companies have become more creative with the shape and structure of bond issues. The following varieties of issues may be found in todayâs market: Straight cash bonds are the high-yield marketâs âplain vanillaâ bond, offering a fixed coupon rate of interest that is paid in cash, usually in semiannual payments, through the maturity or call date. Split-coupon bonds offer one interest (coupon) rate in the early years of the bondâs life, followed by a second interest rate in later years. Split-coupon issues in which the interest rate increases in later years are also called step-up notes.