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# What is a bond ?

### ${color}[#3faae1](A debt issued by a company to raise funds)
A bond is a debt issued by a legal entity (a company, in the case of private property debt) to raise funds directly from investors, known as bondholders. Bonds are the financial securities representing this debt: for the company issuing them, they are equivalent to a loan; for the investor subscribing to them, they represent a claim entitling the holder to interest.

### ${color}[#3faae1](A contract formalising the obligations of each party)
The issuing company and the investor sign a bond contract, which formalises the terms of the loan and sets out, in particular:
The **maturity**, i.e. the duration of the loan
The interest rate appliedThe other rights and obligations of each party (repayment terms, associated guarantees, etc.)

### ${color}[#3faae1](A direct alternative to bank financing)
Unlike a traditional bank loan, a bond issue allows the company to raise funds directly from a wide range of investors, without a banking intermediary; it is precisely this mechanism that makes private property debt financing possible, as offered on Raizers.