A Deferred Call Provision Refers To

A deferred call provision refers to:

A) The open market price of a callable bond on a certain date.
B) The seniority of callable bonds to non-callable bonds in the event of corporate default.
C) The prohibition of a company from ever redeeming callable bonds.
D) The prohibition of a company from redeeming callable bonds prior to a certain date.
E) The amount by which the call price for a callable bond exceeds its par value.