Perpetual Bonds Hit All Time High

Perpetual bonds are a rare and interesting kind of debt not commonly seen by investors. The bonds, which have no date of maturity and pay a constant annual  yield, are seeing a rise in popularity lately as investors frustrated by the low yield corporate debt market search for high yield alternatives.

So far in 2013, $28.9 billion worth of perpetual bonds were issued according to an article on institutionalinvestor.com. That is more than the value of perpetual bonds issued in 2010, 2011, and 2012 combined. The market for perpetual bonds has exploded, and it's investor looking...