A putable bond can be redeemed at par value at the holder's option.Usually,the put option can be exercised only if the issuer takes some specific action,such as significantly increasing debt.

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A putable bond can be redeemed at par value at the holder's option, but this option is typically not contingent on the issuer taking specific actions like increasing debt; it is at the discretion of the bondholder.

A Putable Bond Can Be Redeemed at Par Value at the Holder's