When the bond issuer has the option to repurchase the bond from investors at a time other than the maturity date, the bonds are called:

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If the bond issuer has the option to repurchase the bond from investors at a time other than the maturity date, the bonds are called callable bonds. Non-convertible bonds mean the bond cannot be converted into equity shares of the company. Convertible bonds refer to bonds that can be exchanged for a specific number of the issuer's equity shares. Retractable bonds refer to bonds that can be redeemed by the investor for a specific amount of cash prior to maturity.

When the Bond Issuer Has the Option to Repurchase the Bond