Current market price of the company bonds

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Pan Holdings Ltd issued 10-year bonds 4 years ago with a coupon rate of 9.375 per cent. At the time of issue, the bonds sold at par. Today bonds of similar risk and maturity will pay annual coupons of 6.25 per cent. Assuming semi-annual coupon payments and a face value of $1000, what will be the current market price of the company's bonds?

Reference no: EM132892692

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