These sorts of bonds used to be more common and in the US. The closest more common semi-equivalent thing today is perpetual preferred stock. Most of it is calla

These sorts of bonds used to be more common and in the US. The closest more common semi-equivalent thing today is perpetual preferred stock. Most of it is callable, meaning the issuer can pay it off after a designated period. As for what is used for— it’s cheap capital to run your business with.