corporations can achieve short term financing through a bills facility, however for long term financing the best method is for them to issue a bond in their own name. the government, whether on a state or provincial¹ level issues bonds to finance large construction and development projects. corporations and many other types of companies issue bonds for expansion, asset purchases, mergers² and acquisitions, etc. a bond is a promise to repay borrowed money in addition to paying interest on specified³ dates and is issued for a period of more than a year. these interest payments are called coupons⁵ and are usually paid semi annually⁶ or annually? there are many types of bonds, the most common of which are fixed⁷ rate bonds and floating rate notes (frns). fixed rate bonds pay a pre-determined coupon⁴ and frns pay coupons at a premium⁸ above the bank's fixed deposit rate. bonds that do not pay interest are called zero coupon bonds. this type of bond is rare, as the entire risk to investors⁹ is concentrated at the maturity¹⁰ date where the principal becomes payable¹¹.
　　公司通过汇票获得短期贷款，但是要获取长期贷款的话，最好的方法是以他们的名义发行债券。政府，不管是州级或省级政府，通过发行债券为大型建设和发展项目筹集资金。有限公司和其他类型的公司发行债券则是为了扩大规模、购置资产、合并和买进等。债券是对在规定日期偿还所借的钱并付利息的承诺，发行期限在一年以上。这些支付的利息叫做息票，通常半年或一年支付一次。债券有多种，最常见的有固定利率债券和浮动利率债券（frn）。固定利率债券支付预决息票，浮动利率债券根据银行存款利率贴水支付息票。不付息的债券叫做零息债券。这种债券很少见，因为投资者的全部风险都集中在债券到期日，即付本金的时候。

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