Call Efficiency Calculator™ – High-Precision Debt Management Tool

Description

Call Efficiency Calculator™ is a high-precision tool for determining when to call a bond. The refunding bond can be callable and of arbitrary maturity. It allows users to differentiate between volatilities for the outstanding and refunding bonds, it also accounts for the impact of future issuance fees on the option value.

Technical Specifications

• Platforms: all versions of Windows

Supporting Documents

• Refunding Efficiency: A Generalized Approach
  Applied Financial Economics Letters (Vol. 3, 2007)

• The Sure Thing – Bond Refunding: How Operations Research Made Its Mark on Wall Street
  OR/MS Today (April 1993)