Extendible bond (or extendable bond[1]) is a complex bond with the embedded option for a holder to extend its maturity date by a number of years.
Extendible bond:
A bond with a call provision that gives the issuer the option to extend the maturity date (if the call is not exercised) and reset the coupon at any rate.
Election Period
The period of time during which the holder can elect to extend and extendible bond, or to retract a retractable bond.
The floating rate receipts from the Swaption will roughly cover the new floating rate debt interest. Comment: Cf. Callable Bond, Extendible Bond. Put Option The right, but not not the obligation, to sell the underlying asset at the strike price.
 See also: Issue, Short, Market, Profit, Securities
  
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