Anleihen/Renten

English translation: long-term interest-bearing securities / fixed-income securities

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
German term or phrase:Anleihen/Renten
English translation:long-term interest-bearing securities / fixed-income securities
Entered by: Ted Wozniak

17:33 Mar 9, 2010
German to English translations [PRO]
Bus/Financial - Investment / Securities
German term or phrase: Anleihen/Renten
Anleihen/Renten sind Wertpapiere, die (verzinsliche) Zahlungsansprüche des Käufers der Anleihe (= Gläubiger) gegen den Emittenten (= Schuldner) verbriefen. Sie können mit einer festen, variablen oder keiner Verzinsung ausgestattet sein. Weitere Bezeichnungen sind unter anderem Bond, Obligation und Schuldverschreibung.
njbeckett
Germany
Local time: 07:49
long-term interest-bearing securities / fixed-income securities
Explanation:
Anleihe is an more generic term than Rente. Laut Büschgens "das kleine Börsenlexikon":

Anleihe - auch Obligation, Schuldverschreibung, festverzinsliches Wertpapier, Bond, Rente. Sammelbezeichung für all Schuldverschreibungen mit bestimmter, fester opder variabler Verzinsung, fester, meist längerer Laufzeit sowie anleicheverträglich fixierter Tilgung.

Rente (3) Kurzbezichnung für festverzinsliches Wertpapier

Note: Rente (1) refers to "regular recurring payments under contract or law, e.g. a pension" and (2) refers to "regular recurring payments from invested capital (e.g. an annuity)

Hence, based on the definitions above, if you really need to make a distinction (but IMHO I don't think you really do here in English), you can call an Anleihe a "(long-term) interest-bearing security" and call a Rente a "fixed-income security".

But based on just the sentence given, I would just go with "interest-bearing securities". Note also that even securities with "keine Verzinsung" are still likely to be interest-bearing (if sold on the market at arm's length) since they will be sold at a discount to par but redeemed at par to allow for the time value of money.
Selected response from:

Ted Wozniak
United States
Local time: 00:49
Grading comment
Thanks. 3 good answers methinks
4 KudoZ points were awarded for this answer



Summary of answers provided
4long-term interest-bearing securities / fixed-income securities
Ted Wozniak
4bonds / fixed-income securities (fixed-interest securities)
Sebastian Witte
3debentures
misterherrnau


Discussion entries: 9





  

Answers


35 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
long-term interest-bearing securities / fixed-income securities


Explanation:
Anleihe is an more generic term than Rente. Laut Büschgens "das kleine Börsenlexikon":

Anleihe - auch Obligation, Schuldverschreibung, festverzinsliches Wertpapier, Bond, Rente. Sammelbezeichung für all Schuldverschreibungen mit bestimmter, fester opder variabler Verzinsung, fester, meist längerer Laufzeit sowie anleicheverträglich fixierter Tilgung.

Rente (3) Kurzbezichnung für festverzinsliches Wertpapier

Note: Rente (1) refers to "regular recurring payments under contract or law, e.g. a pension" and (2) refers to "regular recurring payments from invested capital (e.g. an annuity)

Hence, based on the definitions above, if you really need to make a distinction (but IMHO I don't think you really do here in English), you can call an Anleihe a "(long-term) interest-bearing security" and call a Rente a "fixed-income security".

But based on just the sentence given, I would just go with "interest-bearing securities". Note also that even securities with "keine Verzinsung" are still likely to be interest-bearing (if sold on the market at arm's length) since they will be sold at a discount to par but redeemed at par to allow for the time value of money.

Ted Wozniak
United States
Local time: 00:49
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 99
Grading comment
Thanks. 3 good answers methinks
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44 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
bonds / fixed-income securities (fixed-interest securities)


Explanation:
Please compare what the Frankfurter Allgemeine says to this, the national paper having the best financial and business sections in Germany:

Anleihen werden von juristischen Personen begeben und unterscheiden sich durch abweichende Konditionen wie verschieden lange Laufzeiten, Emissionswährungen und Verzinsungen. Letztere kann entweder fest, variabel oder strukturiert (abhängig von bestimmten Ereignissen) sein.

Renten: Kurzbezeichnung für festverzinsliche Wertpapiere


    Reference: http://boersenlexikon.faz.net/anleihe.htm
    Reference: http://boersenlexikon.faz.net/renten.htm
Sebastian Witte
Germany
Local time: 07:49
Specializes in field
Native speaker of: Native in GermanGerman
PRO pts in category: 12
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58 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5
debentures


Explanation:
"A corporate bond that is not secured by specific property. In the event that the issuer is liquidated, the holder of a debenture becomes a general creditor and therefore is less likely than the secured creditors to recover in full. Because of their high risk factor, debentures pay higher rates of interest than secured debt of the same issuer."

Wall Street Words: An A to Z Guide to Investment Terms by David L. Scott.
Copyright © 2003. Published by Houghton Mifflin.


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Note added at 1 hr (2010-03-09 19:17:47 GMT)
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"an interest-bearing bond issued against the general credit of a corporation or governmental unit, with no specific pledge of assets"
Webster's New World Dictionary

misterherrnau
Native speaker of: Native in EnglishEnglish
PRO pts in category: 4
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