50.00
5.00
0.00
45.00
40.00
35.00
30.00
25.00
20.00
15.00
10.00
Jul-98
Jun-94
Oct-95
Mar-97
Jan-93
Dec-99
Month
'Noncallable ^^^^^^βDoomsday Call Standard Call
Figure 2. Distribution of Canadian Corporate Bonds Based on
Callability (Percentages), 01:1993 - 12:1999. For each month during
the sampled 7-year period we count the number of corporate bonds
issued with a doomsday call provision, the number of bonds issued with
a standard call provision, and the number of noncallable bonds, as
reported in the Financial Post Corporate Bond Record. In the Figure we
plot the proportion of each of the above categories calculated with
respect to the total number of bonds within each month.
47