A corporate bond is a formal IOU issued by a corporation.

Name: A corporate bond is a formal IOU issued by a corporation.
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A corporate bond is a formal debt instrument issued by a corporation to raise capital. Investors who purchase this bond are essentially lending money to the corporation and will receive interest payments over a specified period of time, in addition to the repayment of the principal amount at maturity.

A Corporate Bond Is a Formal IOU Issued by a Corporation